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

Rhea-AI Summary

F5 Networks (NASDAQ: FFIV) announced the issuance of 25,838 restricted stock units (RSUs) on November 1, 2021, to 28 employees, following the acquisition of Threat Stack, Inc. on October 1, 2021. The RSUs were granted as inducements and will vest 25% on November 1, 2022, with the remaining 75% vesting quarterly over three years, contingent on continued employment. This equity incentive aligns with NASDAQ Listing Rule 5635(c)(4) and aims to retain talent post-acquisition.

Positive

• Issuance of 25,838 RSUs enhances employee retention post-acquisition.
• Structured vesting schedule incentivizes long-term commitment from new employees.

Negative

• None.

SEATTLE--(BUSINESS WIRE)-- F5 Networks (NASDAQ: FFIV) announced today that on November 1, 2021, it issued a total of 25,838 restricted stock units (“RSUs”) to 28 employees who joined F5 as a result of the acquisition of Threat Stack, Inc., completed on October 1, 2021. The RSUs were granted as employment inducements in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs vest 25 percent on November 1, 2022. The remaining 75 percent will vest in equal quarterly installments over the following three-year period, subject to the employee’s continued employment by F5. The grants are subject to the terms and conditions of the F5 Networks, Inc. Threat Stack 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 Threat Stack 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/20211102005327/en/

Rob Gruening

F5 Corporate Communications

(206) 272-6208

r.gruening@f5.com

Suzanne DuLong

F5 Investor Relations

(206) 272-7049

s.dulong@f5.com

Source: F5 Networks

FAQ

What did F5 Networks announce on November 1, 2021?

F5 Networks announced the issuance of 25,838 restricted stock units (RSUs) to 28 employees as part of its acquisition of Threat Stack, Inc.

How do the RSUs granted by F5 Networks vest?

The RSUs vest 25% on November 1, 2022, with the remaining 75% vesting in equal quarterly installments over the next three years, depending on continued employment.

What was the purpose of the RSUs issued by F5 Networks?

The RSUs were granted as employment inducements to retain employees acquired through the acquisition of Threat Stack, in compliance with NASDAQ Listing Rule 5635(c)(4).

When was the acquisition of Threat Stack by F5 Networks completed?

The acquisition of Threat Stack by F5 Networks was completed on October 1, 2021.