SiTime Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
17 Novembre 2023 - 10:05PM
As required by Nasdaq Listing Rule 5635(c)(4), SiTime Corporation
(NASDAQ: SITM), the precision timing company, today announced that
SiTime granted two restricted stock unit awards (“RSUs”) on
November 16, 2023, to Beth Howe, SiTime’s new Executive Vice
President, Chief Financial Officer. These RSU grants were made in
connection with the previously disclosed agreement with Ms. Howe
and as a material inducement to her joining SiTime. The grants were
approved by the Compensation Committee of SiTime’s Board of
Directors under SiTime’s 2022 Inducement Award Plan in accordance
with Nasdaq Listing Rule 5635(c)(4). The first RSU for 50,918
shares of SiTime’s common stock will vest over four years with 25%
vesting on November 20, 2024, and the remainder will vest as to
1/16 of the total RSU for each quarter thereafter, in each case
subject to Ms. Howe’s continued service on each vesting date. The
second RSU for 3,771 shares of SiTime common stock will vest in
full on November 20, 2023, subject to Ms. Howe’s continued service
on such vesting date. The inducement grants are subject to the
terms and conditions of award agreements covering the grants and
SiTime’s 2022 Inducement Award Plan.
About SiTime
SiTime Corporation is the precision timing
company. Our semiconductor MEMS programmable solutions offer a rich
feature set that enables customers to differentiate their products
with higher performance, smaller size, lower power and better
reliability. With more than 3 billion devices shipped, SiTime is
changing the timing industry. For more information, visit
www.sitime.com.
Investor Relations
Contacts:
Shelton GroupLeanne Sievers | Brett Perry1-949-224-3874 |
1-214-272-0070sheltonir@sheltongroup.com
SiTime CorporationBeth HoweChief Financial
Officerinvestor.relations@sitime.com
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