Inphi Reports Acquisition Related Employment Inducement Awards
SANTA CLARA, Calif. Dec. 16, 2016 —Inphi Corporation (NYSE: IPHI), a leading provider of high-speed data movement interconnects, today announced that it has granted stock unit awards with respect to 983,938 shares of Inphi common stock to new employees who joined Inphi in connection with its acquisition of ClariPhy Communications, Inc.
These stock unit awards were granted outside of Inphi’s 2010 Stock Incentive Plan but, except as provided otherwise in the form award agreement, will be subject to terms and conditions generally consistent with the terms and conditions that apply to stock unit awards under the 2010 Stock Incentive Plan. These stock unit awards are generally scheduled to vest over a period of four years, with 25% of the stock units vesting on December 12, 2017 and an additional 25% of the stock units vesting on each of the following three anniversaries, subject in each case to the applicable grantee’s continued service with Inphi through the applicable vesting date. Vesting of a limited number of these stock unit awards is also subject to achievement of certain business performance goals. The Compensation Committee of Inphi’s Board of Directors approved these stock unit awards on December 13, 2016 in reliance on the employment inducement exception to shareholder approval provided under Section 303A.08 of the NYSE Listed Company Manual.
Inphi Corporation is a leader in high-speed data movement. We move big data fast, throughout the globe, between data centers, and inside data centers. Inphi's expertise in signal integrity results in reliable data delivery, at high speeds, over a variety of distances. As data volumes ramp exponentially due to video streaming, social media, cloud-based services, and wireless infrastructure, the need for speed has never been greater. That's where we come in. Customers rely on Inphi's solutions to develop and build out the Service Provider and Cloud infrastructures, and data centers of tomorrow. To learn more about Inphi, visit www.inphi.com.
Inphi, the Inphi logo and Think fast are registered trademarks of Inphi Corporation. All other trademarks used herein are the property of their respective owners.