SAN JOSE, Calif.-- NETGEAR, Inc. (Nasdaq: NTGR), a leader in intelligent networking solutions, announced the issuance of inducement equity awards to new employees under Nasdaq Listing Rule 5635(c)(4). These awards, aimed at individuals not previously employed by the company, include time-based restricted stock units (RSUs) covering 60,141 shares of NETGEAR common stock. For new hires unrelated to the acquisition of Exium, Inc., one-third of the RSUs will vest on the one-year anniversary of the commencement date, with the remaining shares vesting quarterly thereafter. For employees joining from Exium, Inc., Farooq Khan, now NETGEAR's VP of Software Security, received 33,333 RSUs, and the Exium Team received 31,110 RSUs. Performance-based RSUs were also granted, with 33,333 shares for Mr. Khan and 15,557 shares for the Exium Team. The Exium-related RSUs will vest over a two to three-year period, contingent on continued service with NETGEAR.
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