MaxLinear Announces New Employee Inducement Grants
Download as PDF June 17, 2024
Carlsbad, Calif. – June 17, 2024 – MaxLinear, Inc. (Nasdaq: MXL)("MaxLinear"), a leading provider of RF, analog, digital and mixed-signal integrated circuits, today announced that on June 15, 2024, the Compensation Committee of MaxLinear's Board of Directors approved the grant of restricted stock units ("RSUs") covering an aggregate of 80,249 shares of common stock to 12 newly hired non-executive employees in connection with the commencement of their employment with MaxLinear, pursuant to MaxLinear's 2024 Inducement Equity Incentive Plan ("Inducement Plan") and related forms of agreements. The RSUs were granted as material inducements to these employees entering into employment with MaxLinear in accordance with Nasdaq Listing Rule 5635(c)(4).
With respect to 14,037 RSUs, each will vest over a four-year period, with 25% of the shares subject to the award vesting on February 20, 2025 and thereafter an additional 25% of the shares vesting on each succeeding February 20, such that the award will be fully vested on February 20, 2028, and subject to such employee's continued service with MaxLinear on such vesting dates.
With respect to 21,800 RSUs, each will vest over a four-year period, with 25% of the shares subject to the award vesting on May 20, 2025 and thereafter an additional 25% of the shares vesting on each succeeding May 20, such that the award will be fully vested on May 20, 2028, subject to such employee's continued service with MaxLinear on such vesting dates.
With respect to 44,412 RSUs, each will vest over a four-year period, with 25% of the shares subject to the award vesting on August 20, 2025 and thereafter an additional 25% of the shares vesting on each succeeding August 20, such that the award will be fully vested on August 20, 2028, subject to such employee's continued service with MaxLinear on such vesting dates.
Each RSU is subject to the terms and conditions of the Inducement Plan and the terms and conditions of an RSU agreement covering the grant.
About MaxLinear, Inc.
MaxLinear, Inc. (NASDAQ: MXL) is a leading provider of radio frequency (RF), analog, digital and mixed-signal integrated circuits for access and connectivity, wired and wireless infrastructure, and industrial and multi-market applications. MaxLinear is headquartered in Carlsbad, California. For more information, please visit www.maxlinear.com.
MXL is MaxLinear's registered trademark. Other trademarks appearing herein are the property of their respective owners.
MaxLinear, Inc. Investor Relations Contact:
Leslie Green
Tel: +1 650-312-9060
lgreen@maxlinear.com
Released June 17, 2024