BELLEVUE, Wash., June 18, 2018 /PRNewswire/ -- Bsquare (NASDAQ: BSQR) today reported a grant under its 2011 Inducement Award Plan to Gary Shane who will join Bsquare as its Sr. Director of Finance, Controller effective June 18, 2018.
The grant will be made pursuant to an Offer Letter accepted June 14, 2018, for an award of an option to purchase up to 20,000 shares of Bsquare common stock. The option has a 10-year term and an exercise price which will be determined based on the closing price of Bsquare's common stock on the grant date of June 18, 2018 which is Mr. Shane's start date.
The options each vest annually in equal installments over four years from the grant date, with the first vesting date in June 2019, subject to Mr. Shane's continued service relationship with Bsquare.
The grant was approved by the Compensation Committee on June 15, 2018, comprised of independent directors. In accordance with NASDAQ Listing Rule 5635(c)(4), the grants were made as an inducement material to Mr. Shane's entering into an employment relationship with Bsquare.
For more than two decades, Bsquare has helped its customers extract business value from a broad array of physical assets by making them intelligent, connecting them, and using the data they generate to optimize business processes. Bsquare DataV software solutions can be deployed by a wide variety of enterprises to create business-focused Internet of Things (IoT) systems that more effectively monitor device data, automate processes, predict events and produce better business outcomes. Bsquare goes a step further by coupling its purpose-built DataV software with comprehensive analytic and engineering services that can help organizations of all types make IoT a business reality. For more information, visit www.bsquare.com.
BSQUARE, the BSQUARE Logo and DataV are trademarks of BSQUARE Corporation in the U.S. and other countries. Other names and brands herein may be trademarks of others.
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