F5 Networks Reports Inducement Grants under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

F5 Networks (NASDAQ: FFIV) issued 122,056 restricted stock units (RSUs) to 71 employees following its acquisition of Volterra Inc., which was finalized on January 22, 2021. The RSUs serve as employment incentives and will vest over four years, concluding on February 1, 2025, with individual vesting rates determined by each employee's continued association with F5. This grant complies with NASDAQ Listing Rule 5635(c)(4) and falls under the F5 Volterra Acquisition Equity Incentive Plan.

Positive

• Issuance of RSUs as employment incentives can enhance employee retention and morale.
• Acquisition of Volterra may strengthen F5's position in the multi-cloud application security market.

Negative

• None.

F5 Networks (NASDAQ: FFIV) announced today that on February 1, 2021, the company issued a total of 122,056 restricted stock units (“RSUs”) to 71 employees who joined F5 as a result of the acquisition of Volterra Inc., completed on January 22, 2021. The RSUs were granted as inducements to employment in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs vest over 4 years with a final vest date on February 1, 2025 and the rate of vesting within the 4 years varying among employees, subject to the employee’s continued service relationship with the company. The grants will be subject to the terms and conditions of the F5 Networks, Inc. Volterra Acquisition Equity Incentive Plan.

About F5

F5 (NASDAQ: FFIV) is a multi-cloud application security and delivery company that enables our customers—which include the world’s largest enterprises, financial institutions, service providers, and governments—to bring extraordinary digital experiences to life. For more information, go to f5.com. You can also follow @F5 on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies.

F5 and Volterra are trademarks, service marks, or tradenames of F5 Networks, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.

Source: F5 Networks

View source version on businesswire.com: https://www.businesswire.com/news/home/20210202005277/en/

FAQ

What are the details of F5 Networks' RSU grant?

F5 Networks issued 122,056 restricted stock units (RSUs) to 71 employees, which will vest over four years.

When was the acquisition of Volterra Inc. completed?

The acquisition of Volterra Inc. by F5 Networks was completed on January 22, 2021.

What is the purpose of the RSUs granted by F5 Networks?

The RSUs were granted as inducements to employment to enhance retention and incentivize performance.

How long will the RSUs vest for F5 Networks employees?

The RSUs will vest over a period of four years, with a final vest date on February 1, 2025.

What compliance does the RSU grant from F5 follow?

The RSU grant complies with NASDAQ Listing Rule 5635(c)(4) and the F5 Volterra Acquisition Equity Incentive Plan.