Airgain® Reports Granting of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)
16 November 2023 - 9:00AM
Business Wire
Airgain, Inc. (NASDAQ: AIRG), a leading provider of wireless
connectivity solutions that creates and delivers embedded
components, external antennas, and integrated systems across the
globe, today announced that it has granted inducement awards to 1
new executive employee who recently joined the Company.
The awards were made on November 15, 2023 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 the new
employee consist of an aggregate of 59,480 restricted stock units
(“RSUs”), 18,783 performance-restricted stock units (PSUs) and
98,958 non-qualified options. The RSUs shall vest over four years
in equal annual installments according to the Company’s RSU vesting
schedule, subject to the employees’ continued services with the
Company. The PSUs will vest and be released based on specified
performance and service criteria that includes share price
appreciation, achievement of certain financial thresholds related
to revenue, and defined service and vesting requirements. The Stock
Options shall vest 25% of the original number of shares subject to
the Stock Option on the first anniversary of the Effective Date and
1/48th of the original number of shares subject to the Stock Option
following each one-month period thereafter.
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
employees entering into employment with Airgain in accordance with
Nasdaq Rule 5635(c)(4).
About Airgain, Inc.
Airgain simplifies wireless connectivity across a diverse set of
devices and markets, from solving complex connectivity issues to
speeding time to market to enhancing wireless signals. Our products
are offered in three distinct sub-brands: Airgain Embedded, Airgain
Integrated and Airgain Antenna+. Our mission is to connect the
world by making wireless simple. Airgain's expertise in custom
cellular and antenna system design pairs with our focus on
high-growth technologies and our dedication to simplify the growing
complexity of wireless. With a broad portfolio of products across
the value chain, from embedded components to fully integrated
products, we are equipped to solve critical connectivity needs in
both the design process and the operating environment across the
enterprise, automotive, and consumer markets. Airgain is
headquartered in San Diego, California. For more information, visit
airgain.com, or follow Airgain on LinkedIn and Twitter.
Airgain and the Airgain logo are trademarks, or registered
trademarks of Airgain, Inc. All other trademarks are the property
of their respective owner.
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 outcomes of the development, time
to market, the performance of, and market for, Airgain’s products
or those of its partners; the growth of the EV charging market and
the importance of connectivity in connection with that growth; and
the ability to create solutions that are cost effective and meet
the needs of customers, as well as their acceptance by the market.
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, including bundled
solutions with third-party products; if our channel partners fail
to perform, or our partnerships are unsuccessful, we may not be
able to bring our product solutions to market successfully or on a
timely basis; 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, global supply chain constraints and rising interest rates
and inflation may continue to disrupt and otherwise adversely
affect our operations and those of our suppliers, partners,
distributors and ultimate end customers; risks associated with any
regulatory approvals that may be required; risks associated with
quality and timing in manufacturing our products and our reliance
on third- party manufacturers; we may not be able to maintain
strategic collaborations under which our bundled solutions are
offered; 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/20231115435603/en/
Brian Critchfield VP, Global Marketing (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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