Mindspeed Reports Inducement Equity Grant, 15,000 Shares, 33.33% of Company
Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that on August 21, 2012, the compensation and management development committee of its board of directors granted Preetinder S. Virk, the company's senior vice president and general manager, communications convergence processing (CCP), an option to purchase 15,000 shares of the company's common stock. The stock option award will vest 33.33% on the one year anniversary of the grant date, and 8.33% quarterly thereafter.
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