FARO Reports Inducement Grant Under Nasdaq Listing Rules
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In accordance with Nasdaq Listing Rule 5635(c)(4), on August 2, 2023, upon the recommendation of our Talent Development and Compensation Committee, FARO's Board of Directors granted, in the aggregate, 434,837 restricted stock units, or RSUs, to Peter J. Lau as a material inducement to him entering into employment with FARO. The grant is awarded as a combination of time vesting RSUs and performance RSUs in a ratio of
The inducement RSU awards were made outside of FARO's current stockholder-approved equity plan, the 2022 Equity Incentive Plan, and were made pursuant to stand-alone inducement grant award agreements. The terms and conditions of these agreements are generally consistent with those under the 2022 Equity Incentive Plan.
About FARO
For over 40 years, FARO has been a pioneer in #RealityCapture, bridging the digital and physical worlds through data-driven reliable accuracy, precision, and immediacy, providing industry-leading technology solutions that enable customers to measure their world and use that data to make smarter decisions faster. For more information, visit www.faro.com.
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SOURCE FARO