SAN DIEGO--(BUSINESS WIRE)--Aug. 6, 2018--
Corp. (Nasdaq: INSG), an industry leader in solutions for
intelligent mobile enterprises, announced today that on July 27, 2018,
the compensation committee of Inseego’s Board of Directors approved the
grant of 207,000 stock options in the aggregate to 11 new employees.
The stock options were granted pursuant to the Inseego Corp. 2018
Omnibus Incentive Compensation Plan and were granted as inducements
material to the new employees entering into employment with Inseego in
accordance with NASDAQ Listing Rule 5635(c)(4). Inseego uses employee
equity awards, including the inducement awards described herein, to
attract new employees and to retain and motivate current employees.
The stock options have an exercise price of $1.85, the closing price of
the Company’s common stock on the date of the grant. The stock options
will vest over a four-year period, with one-fourth vesting on the first
anniversary of the grant date and the remainder vesting on a monthly
basis thereafter through the fourth anniversary of the grant date,
subject to the new employee’s continued service with the Company.
Inseego is providing this information in accordance with NASDAQ Listing
About Inseego Corp.
Inseego Corp. (Nasdaq: INSG) enables high performance mobile
applications for large enterprise verticals, service providers and
small-medium businesses around the globe. Our product portfolio consists
of Enterprise SaaS solutions and IoT & Mobile solutions, which together
form the backbone of compelling, intelligent, reliable and secure IoT
services with deep business intelligence. Inseego powers mission
critical applications with a “zero unscheduled downtime” mandate, such
as asset tracking, fleet management, industrial IoT, SD WAN failover
management and mobile broadband services. Our solutions are powered by
our key innovations in purpose built SaaS cloud platforms, IoT and
mobile technologies including the newly emerging 5G technology. Inseego
is headquartered in San Diego, California with offices worldwide. www.inseego.com
Cautionary Note Regarding Forward-Looking Statements
This release may contain forward-looking statements, which are made
pursuant to the safe harbor provisions of the United States Private
Securities Litigation Reform Act of 1995, as amended to date. These
forward-looking statements involve risks and uncertainties. A number of
important factors could cause actual results to differ materially from
those in the forward-looking statements contained herein. These factors
include risks relating to technological changes, new product
introductions, continued acceptance of Inseego's products and dependence
on intellectual property rights. These factors, as well as other factors
that could cause actual results to differ materially, are discussed in
more detail in Inseego's filings with the United States Securities and
Exchange Commission (available at www.sec.gov)
and other regulatory agencies.
©2018. Inseego Corp. All rights reserved. The Inseego name and logo are
trademarks of Inseego Corp. Other Company, product or service names
mentioned herein are the trademarks of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180806005187/en/
Source: Inseego Corp.
Anette Gaven, +1 619-993-3058
Joo-Hun Kim, +1 212-868-6760