Synaptics Announces Inducement Grants for Phillip Kumin under Nasdaq Listing Rule 5635(c)(4)
03/30/2020 | 04:06pm EDT
SAN JOSE, Calif., March 30, 2020 (GLOBE NEWSWIRE) -- Synaptics Incorporated (NASDAQ: SYNA), (the “Company”), a leading developer of human interface solutions, today announced that effective March 30, 2020, Synaptics’ Board of Directors has granted Phillip Kumin, the Company’s newly-appointed Senior Vice President of Worldwide Sales, equity awards under the Synaptics Incorporated 2019 Inducement Equity Plan (the “Inducement Plan”).
The Inducement Plan is used exclusively for the granting of equity awards to individuals who were not previously an employee or non-employee director of the Company (or following a bona fide period of non-employment) as an inducement material to such individuals entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).
The Board has granted Phillip Kumin 12,524 restricted stock units (“RSUs”) that will vest annually over four years, and 12,524 market stock units (“MSUs”) that will vest annually over three years, subject to his continued service with the Company on such vesting dates. Other terms of the RSU and MSU grants are as determined by the Board and set forth in the Inducement Plan and applicable award agreements covering each grant.
About Synaptics: Synaptics is the pioneer and leader of human interface technology, bringing innovative and intuitive user experiences to intelligent devices. Synaptics’ broad portfolio of touch, display, biometrics, voice, audio, and multimedia products is built on the company’s rich R&D, extensive IP and dependable supply chain capabilities. With solutions designed for mobile, PC, smart home, and automotive industries, Synaptics combines ease of use, functionality and aesthetics to enable products that help make our digital lives more productive, secure and enjoyable. (NASDAQ: SYNA) www.synaptics.com.