SANTA CRUZ, Calif.,
Nov. 16, 2020 /PRNewswire/
-- Poly (NYSE: PLT) today announced that it has granted
equity awards that were approved by the Leadership Development and
Compensation Committee (the "Committee") of Poly's Board of
Directors on October 26, 2020, as a
material inducement to employment to Lisa
Bodensteiner, who was appointed Executive Vice President,
Chief Legal and Compliance Officer and Corporate Secretary,
effective as of October 30, 2020.
The awards made to Ms. Bodensteiner are as follows. First, an
award of 15,000 restricted stock units ("RSUs") granted on
November 16, 2020 (the "Award Date"),
which will vest in three equal annual installments commencing on
the last calendar day of the month following each anniversary of
the Award Date in accordance with the Company's Equity Processes
Policy, in each case subject to Ms. Bodensteiner's continued
employment with the Company on each applicable vesting date.
Second, an award of 35,000 performance stock unit awards ("PSUs")
on the Award Date. The performance period for the PSUs will be
aligned to the Company's 2021 fiscal year for performance-based
RSUs (the "PSU Plan"). The PSUs will vest in accordance with the
terms of the PSU Plan, subject to Ms. Bodensteiner's continued
employment with the Company through the applicable vesting
date.
The awards were all granted outside of the Poly 2003 Stock Plan
(but generally have terms and conditions consistent with those set
forth in that plan) and were approved by the Committee in reliance
on the employment inducement exemption under the NYSE's Listed
Company Manual Rule 303A.08, which requires public announcement of
inducement awards. Pursuant to the requirements of that rule, Poly
is issuing this press release.
About Poly
Poly (Plantronics, Inc. – formerly
Plantronics and Polycom) is a global communications company that
powers meaningful human connection and collaboration. Poly combines
legendary audio expertise and powerful video and conferencing
capabilities to overcome the distractions, complexity and distance
that make communication challenging. Poly believes in solutions
that make life easier when they work together and with our
partners' services. Poly is one of the global industry leaders
offering headsets, video and audio conferencing, desk phones,
analytics software and services. For more information
visit www.Poly.com.
Poly, the propeller design, and the Poly logo are trademarks of
Plantronics, Inc. All other trademarks are the property of their
respective owners.
INVESTOR CONTACT:
Mike
Iburg
Vice President, Investor Relations
(831) 458-7533
MEDIA CONTACT:
Edie
Kissko
Vice President, Poly Communications
(213) 369-3719
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SOURCE Poly