Airgain® Reports Granting of Incentive Rewards Under Nasdaq Listing Rule 5635 (c) (4)
SAN DIEGO – (COMMERCIAL THREAD) – Airgain, Inc. (NASDAQ: AIRG), a leading provider of advanced antenna technologies used to enable high-performance wireless networking across a wide range of devices and markets, including consumers, businesses and the automotive industry, today announced that it has awarded incentive rewards to six new non-executive employees who have recently joined the Company, including Ali Sadri, the Company’s new Senior Vice President, Engineering.
The grants were made on June 30, 2021 as part of the 2021 Airline employment incentive plan, which provides for the granting of shares to new Airline employees as an incentive to join. the company. The incentives for the six new employees consist of options to purchase a total of 25,500 common shares of Airgain and 12,000 restricted stock units (“RSUs”). The options have a term of 10 years and an exercise price equal to $ 20.62 the fair market value of the common shares of Airline on the grant date. Options vest over a four-year period, with 25% of options vesting on the first anniversary of the applicable vesting start date, and the remainder vesting in equal monthly installments thereafter and are subject to continuous employee service. within the Company until the applicable acquisition date. Each RSU represents a contingent right to receive one common share of the Company and no exercise price is associated with the RSUs granted hereunder. PSUs vest in four substantially equal installments on May 15, 2022, 2023, 2024 and 2025, subject to the continued service of employees within the Company. Mr. Sadri was granted 20,000 of the aforementioned options and all 12,000 of the aforementioned PSUs, and his grant was the only individually negotiated grant. The awards have been approved by the Compensation Committee of the Airline Board of Directors, as required by Nasdaq Rule 5635 (c) (4), and have been granted as an incentive to new hires joining. service at Airgain in accordance with Nasdaq rule 5635 (c) (4).
About Airgain, Inc.
Airgain is a leading provider of advanced wireless connectivity solutions and technologies used to enable high performance wireless networking across a wide range of devices and markets including consumer, business and automotive. . Air’s mission is to connect the world through advanced antenna systems and integrated wireless solutions. Combining design-driven thinking with testing and development, AirGain’s technologies are deployed in the wireless networks and systems of operators, fleets, enterprises, individuals, governments and public safety, including set-top boxes, access points, routers, modems, gateways, media adapters, laptops, digital televisions, sensors, fleet and asset tracking devices. With its pedigree in the design, integration and testing of high performance integrated antenna technology, Airgain has become a market leading supplier of residential wireless LANs, also known as WLANs, providing major operators, original equipment manufacturers or OEMs, original design manufacturers or ODMs, and chip manufacturers who rely on us to meet their wireless performance goals. Airgain is headquartered in San Diego, California, and has design and test centers in the US, UK and China. For more information, visit airgain.com, or follow Airgain on LinkedIn and Twitter.
Airgain and the Airgain logo are registered trademarks of Airgain, Inc.
Airgain cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on the current beliefs and expectations of the company. These forward-looking statements include statements regarding the expected employment relationship of employees receiving options and expectations regarding the future performance and opportunities of Airline that involve substantial risks and uncertainties. The inclusion of forward-looking statements should not be taken as a representation by Airgain that any of our plans will be realized. Actual results may differ from those presented in this press release due to the risks and uncertainties inherent in our business, including, without limitation: the market for our products is developing and may not develop as we do. plan; risks related to the performance of our products or the network dedicated to first responders; our products are subject to intense competition, and competitive pressures from existing and new companies may adversely affect our business, sales, growth rates and market share; the COVID-19 pandemic may continue to disrupt and otherwise negatively affect our operations and those of our suppliers, partners, distributors and end end customers, as well as the overall market in which our antennas are used, while negatively affecting all US and world economic and financial market conditions and, ultimately, our sales and operating results; the risks associated with the design and manufacture of a one-of-a-kind product and its introduction into the newly authorized dedicated first responder frequencies and the associated uncertainty of regulatory compliance in a new product category; risks associated with the quality and manufacturing schedule of our products and our reliance on third party manufacturers; if we cannot protect our intellectual property rights, our competitive position could be compromised or we could incur significant expenses to enforce our rights; and other risks described in our previous press releases and in our filings with the Securities and Exchange Commission, including under the heading “Risk Factors” in our Annual Report on Form 10-K and any subsequent filings with of the SEC. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof, and we assume no obligation to revise or update this press release to reflect any events or developments. circumstances subsequent to the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, which is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.