Sierra Wireless, Inc. SWSWIR today provided a statement of clarification with regard to Schedule A of our Management Information Circular on the topic of issuance of securities under our security based compensation plans.
The Company is clarifying that in accordance with established management practice, we do not intend to issue securities under any of our security based compensation plans that would, when aggregated, result in the number of Common Shares issuable exceeding 8.1% of the issued and outstanding Common Shares from time to time. This applies to our Stock Option Plan and Treasury Restricted Share Unit plan. With regard to shares issued under our Treasury RSU plan, a sub-limit of 3.7% of the issued and outstanding Common Shares from time to time will apply.
In addition to this clarification, we are undertaking to amend our security based compensation plans over the course of the next year to reflect this management practice, subject to the approval of the TSX.
About Sierra Wireless
Sierra Wireless SWIR (TSX:
SW) is an IoT pioneer, empowering businesses and industries to transform
and thrive in the connected economy. Customers Start with Sierra because
we offer a device to cloud solution, comprised of embedded and
networking solutions seamlessly integrated with our secure cloud and
connectivity services. OEMs and enterprises worldwide rely on our
expertise in delivering fully integrated solutions to reduce complexity,
turn data into intelligence and get their connected products and
services to market faster. Sierra Wireless has more than 1,300 employees
globally and operates R&D centers in North America, Europe and Asia. For
more information, visit www.sierrawireless.com.
Connect with Sierra Wireless on the IoT Blog at http://www.sierrawireless.com/iot-blog, on Twitter at @SierraWireless, on LinkedIn at http://www.linkedin.com/company/sierra-wireless and on YouTube at http://www.youtube.com/SierraWireless.
Forward Looking Statements
This press release contains
forward-looking statements that involve risks and uncertainties. These
forward-looking statements relate to, among other things, plans and
timing for the introduction or enhancement of our services and products,
statements about future market conditions, supply conditions, channel
and end customer demand conditions, revenues, gross margins, operating
expenses, profits, and other expectations, intentions, and plans
contained in this press release that are not historical fact. Our
expectations regarding future revenues and earnings depend in part upon
our ability to successfully develop, manufacture, and supply products
that we do not produce today and that meet defined specifications. When
used in this press release, the words "plan", "expect", "believe", and
similar expressions generally identify forward-looking statements. These
statements reflect our current expectations. They are subject to a
number of risks and uncertainties, including, but not limited to,
changes in technology and changes in the wireless data communications
market. In light of the many risks and uncertainties surrounding the
wireless data communications market, you should understand that we
cannot assure you that the forward-looking statements contained in this
press release will be realized.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180503006757/en/
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