CARLSBAD, Calif., Sept. 17,
2024 /PRNewswire/ -- Viasat (NASDAQ: VSAT), a global
leader in satellite communications, today announced that on
September 16, 2024, the Board of
Directors of Viasat, including a majority of the independent
directors, granted 265,685 restricted stock units ("RSUs") and
59,199 performance-based restricted stock units ("PSUs") (assuming
achievement at "target" levels of performance), to Gary Chase, the Company's Senior Vice President
and Chief Financial Officer, under the Company's 2024 Employment
Inducement Incentive Award Plan (the "Inducement Plan"). The RSUs
and PSUs were granted as inducements material to Mr. Chase upon
entering into employment with Viasat in accordance with Nasdaq
Listing Rule 5635(c)(4).
The Inducement Plan is used exclusively for the grant of equity
awards to individuals who were not previously employees of Viasat,
or following a bona fide period of non-employment, as an inducement
material to such individuals entering into employment with Viasat,
pursuant to Nasdaq Listing Rule 5635(c)(4).
78,143 of the RSUs will vest in three equal annual installments
beginning with the first anniversary of the grant date, subject to
continued service through each applicable vesting date.
187,542 of the RSUs will vest in three equal installments occurring
on February 17, 2025, 2026 and 2027.
The PSUs will vest on the third anniversary of the grant date and
following a three-year performance period, subject to continued
service through the vesting date. Actual earned PSUs can
range from 0%-175% of the "target" number of PSUs and will be based
on Viasat's relative total shareholder return performance against
the companies that comprise the Russell 3000 Index. The RSUs
and PSUs are subject to the terms and conditions of the Inducement
Plan and the terms and conditions of award agreements covering the
grants.
About Viasat
Viasat is a global communications company that believes
everyone and everything in the world can be connected. With offices
in 24 countries around the world, our mission shapes how consumers,
businesses, governments and militaries around the world communicate
and connect. Viasat is developing the ultimate global
communications network to power high-quality, reliable, secure,
affordable, fast connections to positively impact people's lives
anywhere they are—on the ground, in the air or at sea, while
building a sustainable future in space. In May 2023, Viasat completed its acquisition of
Inmarsat, combining the teams, technologies and resources of the
two companies to create a new global communications partner. Learn
more at www.viasat.com, the Viasat News Room or
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SOURCE Viasat, Inc.