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TriQuint Reports Approval of Inducement Awards Related to CAP Wireless Purchase

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TriQuint Semiconductor, Inc. (NASDAQ: 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).

Posted-In: M&A News

 

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