VIAVI Solutions Issues Equity Awards In Connection With Appointment of Chief Executive Officer
Milpitas, Calif., February 19, 2016 – (NASDAQ: VIAV) VIAVI Solutions Inc. (“VIAVI”), today announced that, in connection with the appointment of Oleg Khaykin as Chief Executive Officer, it has issued grants of compensatory options and restricted stock unit awards to Mr. Khaykin. These grants were made as off-plan grants as an inducement for Mr. Khaykin to join the Company and were not made pursuant to any stockholder-approved equity plan.
These grants were approved by the VIAVI Solutions Board of Directors on February 9, 2016 with a grant date of February 15, 2016. Pursuant to such approval, VIAVI awarded Mr. Khaykin restricted stock units covering a total of 446,638 shares of VIAVI common stock, performance units covering a target of 115,546 shares of VIAVI common stock, and options to purchase 1,180,257 shares of VIAVI common stock with an exercise price of $5.95 per share which is equal to the market closing price of the Company’s common stock on February 12, 2016.
The terms and conditions of the awards were previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 2, 2016 and in the award agreements filed as exhibits to the Form S-8 Registration Statement filed with the Securities and Exchange Commission on February 11, 2016.
About VIAVI Solutions
VIAVI (NASDAQ: VIAV) software and hardware platforms and instruments deliver end-to-end visibility across physical, virtual and hybrid networks. Precise intelligence and actionable insight from across the network ecosystem optimizes the service experience for increased customer loyalty, greater profitability and quicker transitions to next-generation technologies. VIAVI is also a leader in anti-counterfeiting solutions for currency authentication and high-value optical components and instruments for diverse government and commercial applications. Learn more at www.viavisolutions.com and follow us on VIAVI Perspectives, LinkedIn, Twitter, YouTube and Facebook