Notice of Inducement Grants for Kurt Hoff, Lantronix Vice President, Worldwide Sales
04 Março 2024 - 9:00AM
Lantronix Inc. (NASDAQ: LTRX), a global provider of compute and
connectivity IoT solutions, announced that in connection with the
commencement of the employment of Kurt Hoff, vice president,
Worldwide Sales, effective March 4, 2024, the Company has agreed to
issue Hoff inducement awards consisting of 62,404 restricted share
units (RSUs) and 43,203 performance-based share units (PSUs), with
the number of PSUs assuming target level of performance. The RSU
award is scheduled to vest over three years as follows: one-third
of the award is scheduled to vest on March 1, 2025, and the
remaining RSUs are scheduled to vest ratably each quarter
thereafter over a period of two years. The PSU award is scheduled
to vest based on the company’s relative total stockholder return
(TSR) over a three-year period beginning on the employment
commencement date. Each award is subject to the terms and
conditions of the applicable award agreement. The inducement
RSUs and PSUs are granted as employment inducement awards in
accordance with NASDAQ Listing Rule 5635(c)(4).
About Lantronix
Lantronix Inc. is a global provider of compute and connectivity
IoT solutions that target high-growth industries including Smart
Cities, Automotive and Enterprise. Lantronix’s products and
services empower companies to succeed in the growing IoT markets by
delivering customizable solutions that address each layer of the
IoT Stack. Lantronix’s leading-edge solutions include Intelligent
Substations infrastructure, Infotainment systems and Video
Surveillance, supplemented with advanced Out-of-Band Management
(OOB) for Cloud and Edge Computing.
For more information, visit the Lantronix website.
© 2024 Lantronix, Inc. All rights reserved. Lantronix is a
registered trademark. Other trademarks and trade names are those of
their respective owners.
Lantronix Media Contact:Gail
Kathryn MillerCorporate Marketing &Communications
Managermedia@lantronix.com949-212-0960
Lantronix Analyst and Investor
Contact:Jeremy WhitakerChief Financial
Officerinvestors@lantronix.com 949-450-7241
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