Bsquare Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)
BELLEVUE, WA -- (Marketwired) -- 11/05/14 --
BSQUARE Corporation(NASDAQ: BSQR), a leading enabler of smart, connected systems, today reported two grants under its 2011 Inducement Award Plan to Martin L. Heimbigner, who joined Bsquare as its Chief Financial Officer effective November 3, 2014.
The grants were made on November 3, 2014 and include a grant of 7,500 restricted stock units, and grant of a non-qualified stock option to purchase an aggregate of 100,000 shares of Bsquare common stock. The option has a 10-year term and an exercise price of $3.83 per share, which was the closing price of Bsquare's common stock on the grant date. The restricted stock units and option each vest as to 33% of the underlying shares of Bsquare common stock on November 3, 2015, with the balance vesting in equal monthly installments for two years thereafter, subject to Mr. Heimbigner's continued service relationship with Bsquare.
The grants were approved by the Bsquare Board of Directors on October 22, 2014, including a majority of its independent directors. In accordance with NASDAQ Listing Rule 5635(c)(4), the grants were made as an inducement material to Mr. Heimbigner's entering into an employment relationship with Bsquare.
About BSQUARE Corporation
Bsquare, a global leader in embedded solutions, applies experience and expertise on leading platforms to create new connections with customers, new business models and to enable new ways of working and communicating. Bsquare serves customers by forging connections among the partners, people, tools and technology needed to create smart connected devices. For more information, visit www.bsquare.com.
BSQUARE is a registered trademark of BSQUARE Corporation. All other product and company names herein may be trademarks of their respective owners.
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Source: BSQUARE Corporation