Press release from Business Wire
Semtech Reports Grants of Inducement Awards
Monday, May 20, 2013
Semtech Reports Grants of Inducement Awards16:05 EDT Monday, May 20, 2013
CAMARILLO, Calif. (Business Wire) -- SEMTECH CORPORATION (NASDAQ: SMTC), a leading supplier of analog and mixed-signal semiconductors, today announced that as an inducement to enter into employment with Semtech, it has made awards effective May 15, 2013 of restricted stock units (“Inducement Awards”) to two recently hired employees under the Semtech 2009 Long-Term Equity Incentive Inducement Plan (the "Inducement Plan"). An aggregate of 10,000 restricted stock units have been awarded for these Inducement Awards. Pursuant to the terms of Inducement Awards, each of the Inducement Awards is subject to time-based vesting and will vest annually over a four-year period. Vesting of each Inducement Award is contingent on each applicable employee remaining employed with Semtech through the relevant vesting dates.
Semtech Corporation is a leading supplier of analog and mixed-signal semiconductors for high-end consumer, computing, communications and industrial equipment. Products are designed to benefit the engineering community as well as the global community. The company is dedicated to reducing the impact it, and its products, have on the environment. Internal green programs seek to reduce waste through material and manufacturing control, use of green technology and designing for resource reduction. Publicly traded since 1967, Semtech is listed on the NASDAQ Global Select Market under the symbol SMTC. For more information, visit http://www.semtech.com.
Investor Relations, 805-480-2004