Airgain® Reports Granting of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
19 January 2022 - 11:19AM
Business Wire
Airgain, Inc. (NASDAQ: AIRG), a leading provider of advanced
wireless connectivity solutions and technologies used to enable
high performance wireless networking across a broad range of
devices and markets, including consumer, enterprise, and
automotive, today announced that it has granted inducement awards
to Victor Blair, a new non-executive employee who recently joined
the Company as Vice President, Global Operations.
The awards were made on January 18, 2022 under Airgain’s 2021
Employment Inducement Incentive Award Plan, which provides for the
granting of equity awards to new employees of Airgain as an
inducement to join the company. The inducement awards to Mr. Blair
consist of options to purchase 20,000 shares of Airgain common
stock, and 10,000 restricted stock units (“RSUs”). The options have
a 10-year term and an exercise price equal to $10.92, the fair
market value of Airgain common stock on the date of grant. The
options vest over a four-year period, with 25% of the options
vesting on the first anniversary of the applicable vesting
commencement date, and the rest vesting in equal monthly
installments thereafter and are subject to Mr. Blair’s continued
service with the Company through the applicable vesting date. Each
RSU represents a contingent right to receive one share of the
Company's common stock and there is no exercise price associated
with the RSUs granted hereunder. The RSUs vest in four
substantially equal installments on each of March 1, 2023, 2024,
2025, and 2026, subject to Mr. Blair’s continued services with the
Company. The awards were approved by the Compensation Committee of
Airgain’s Board of Directors, as required by Nasdaq Rule
5635(c)(4), and were granted as an inducement material to the new
employee entering into employment with Airgain in accordance with
Nasdaq Rule 5635(c)(4).
About Airgain, Inc.
Airgain is a leading provider of advanced wireless connectivity
technologies and systems used to enable high performance networking
across a broad range of devices and markets, including consumer,
enterprise, and automotive. Airgain’s mission is to connect the
world through optimized integrated wireless solutions. Combining
design-led thinking with testing and development, Airgain’s
technologies are deployed in carrier, fleet, enterprise,
residential, private, government, and public safety wireless
networks and systems, including set-top boxes, access points,
routers, modems, gateways, media adapters, portables, digital
televisions, sensors, fleet tracking, in-vehicle networking, and
asset tracking devices. Through its pedigree in the design,
integration, and testing of high-performance wireless modules and
antenna technology, Airgain has become a leading provider of
integrated communications products that solve critical connectivity
needs. Airgain is headquartered in San Diego, California, and
maintains design and test centers in the U.S., U.K., and China. For
more information, visit airgain.com, or follow us on LinkedIn and
Twitter.
Airgain and the Airgain logo are trademarks or registered
trademarks of Airgain, Inc.
Forward-Looking Statements
Airgain cautions you that statements in this press release that
are not a description of historical facts are forward-looking
statements. These statements are based on the company's current
beliefs and expectations. These forward-looking statements include
statements regarding the expected employment relationship of the
employees receiving options and expectations about the Airgain’s
future performance and opportunities that involve substantial risks
and uncertainties. The inclusion of forward-looking statements
should not be regarded as a representation by Airgain that any of
our plans will be achieved. Actual results may differ from those
set forth in this press release due to the risk and uncertainties
inherent in our business, including, without limitation: the market
for our products is developing and may not develop as we expect;
risks associated with the performance of our products or the first
responder dedicated network; our products are subject to intense
competition, and competitive pressures from existing and new
companies may harm our business, sales, growth rates and market
share; the COVID-19 pandemic may continue to disrupt and otherwise
adversely affect our operations and those of our suppliers,
partners, distributors and ultimate end customers, and the overall
market that our antennas are used in, as well as adversely
affecting the general U.S. and global economic conditions and
financial markets, and, ultimately, our sales and operating
results; risks associated with the design and manufacturing of a
first of its kind product and its introduction into the newly
licensed first responder dedicated frequencies and associated
uncertainty of regulatory compliance in a new product category;
risks associated with quality and timing in manufacturing our
products and our reliance on third-party manufacturers; if we
cannot protect our intellectual property rights, our competitive
position could be harmed or we could incur significant expenses to
enforce our rights; and other risks described in our prior press
releases and in our filings with the Securities and Exchange
Commission, including under the heading "Risk Factors" in our
Annual Report on Form 10-K and any subsequent filings with the SEC.
You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and we undertake no obligation to revise or update this press
release to reflect events or circumstances after the date hereof.
All forward-looking statements are qualified in their entirety by
this cautionary statement, which is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995.
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version on businesswire.com: https://www.businesswire.com/news/home/20220118006286/en/
Airgain Company Contact Brian Critchfield VP, Global
Marketing Airgain, Inc. (760) 579-0200 x5412
investors@airgain.com
Airgain Investor Contact Matt Glover Gateway Group, Inc.
+1 949 574 3860 AIRG@gatewayir.com
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