TriQuint Semiconductor, Inc. TQNT, a leading RF solutions supplier
and technology innovator, today announced that its Board of Directors'
Compensation Committee has approved stock options and restricted stock unit
(RSU) awards in conjunction with the company's acquisition of CAP Wireless,
Inc. (Newbury Park, CA, USA). Terms of the acquisition were not disclosed and
the impact to earnings this year is expected to be immaterial.
The directors approved 67,900 stock options and 46,760 RSU awards to former
CAP Wireless employees under the TriQuint 2008 Inducement Plan. The awards
were granted August 7, 2013. The stock options expire on August 7, 2023 and
will vest 25 percent on August 7, 2014 with the remaining 75 percent vesting
quarterly over the next three years, and have an exercise price equal to 100%
of the closing price of TQNT common stock on Aug 7, 2013. The RSUs will vest
25 percent on August 1, 2014 with the remaining 75 percent vesting annually
over the next three years.
TriQuint's Compensation Committee, which is solely comprised of independent
directors, approved the grant of the awards on August 7, 2013 in accordance
with NASDAQ Listing Standard 5635(c)(4).
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