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Synaptics Announces Inducement Grants under Nasdaq Listing Rule 5635(c)(4)

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SAN JOSE, Calif., Aug. 19, 2019 (GLOBE NEWSWIRE) -- Synaptics® Incorporated (NASDAQ: SYNA), (the “Company”), the leading developer of human interface solutions, today announced that effective August 19, 2019 the Board of Directors of the Company (the “Board”) adopted the Synaptics Incorporated 2019 Inducement Equity Plan (the “Inducement Plan”) under which the Company may grant inducement equity awards outside the Synaptics Incorporated Amended and Restated 2010 Incentive Compensation Plan.

The Inducement Plan is used exclusively for the grant of equity awards to individuals who were not previously an employee or non-employee director of the Company (or following a bona fide period of non-employment) as an inducement material to such individual's entering into employment with the Company in accordance with Nasdaq Listing Rule 5635(c)(4).

In addition, the Company announced that effective August 19, 2019, the Board has granted Michael Hurlston, the Company’s newly-appointed President and Chief Executive Officer, 59,772 restricted stock units (“RSUs”) and a target of 154,985 market stock units (“MSUs”) under the Inducement Plan. Both the RSUs and MSUs will vest annually over four years, subject to his continued service with the Company on such vesting dates, and MSU achievement will be based on Company total shareholder return performance. Other terms of the RSU and MSU grants are as determined by the Board and set forth in the Inducement Plan and applicable award agreements covering each grant.

About Synaptics:
Synaptics is the pioneer and leader of human interface technology, bringing innovative and intuitive user experiences to intelligent devices. Synaptics’ broad portfolio of touch, display, biometrics, voice, audio, and multimedia products is built on the company’s rich R&D, extensive IP and dependable supply chain capabilities. With solutions designed for mobile, PC, smart home, and automotive industries, Synaptics combines ease of use, functionality and aesthetics to enable products that help make our digital lives more productive, secure and enjoyable. (NASDAQ: SYNA) www.synaptics.com.

Join Synaptics on Twitter, LinkedIn, and Facebook, or visit www.synaptics.com.

Synaptics, and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners.

For further information, please contact:
David Hurd
Synaptics
+1-408-904-2766
david.hurd@synaptics.com

 

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Source: Synaptics Incorporated

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

This website contains forward-looking statements that are subject to the safe harbors created under the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business, and can be identified by the fact that they do not relate strictly to historical or current facts. Such forward-looking statements may include words such as "expect," "anticipate," "intend," "believe," "estimate," "plan," "target," "strategy," "continue," "may," "will," "should," variations of such words, or other words and terms of similar meaning. All forward-looking statements reflect our best judgment and are based on several factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control. Such factors include, but are not limited to, the risks as identified in the "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business" sections of our Annual Report on Form 10-K for our most recent fiscal year, and other risks as identified from time to time in our Securities and Exchange Commission reports. Forward-looking statements are based on information available to us on the date hereof, and we do not have, and expressly disclaim, any obligation to publicly release any updates or any changes in our expectations, or any change in events, conditions, or circumstances on which any forward-looking statement is based. Our actual results and the timing of certain events could differ materially from the forward-looking statements. These forward-looking statements do not reflect the potential impact of any mergers, acquisitions, or other business combinations that had not been completed as of the date of this filing.

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