Lantronix Names Jacques Issa as VP of Marketing

Rhea-AI Summary

Lantronix Inc. (NASDAQ: LTRX) appointed Jacques Issa as the vice president of Marketing, effective July 12, 2021. With over 30 years of experience, Issa aims to support the company's strategic growth in the IoT and Remote Environment Management sectors. Previously at Virtium LLC and Microsemi, he oversaw significant revenue operations. His employment includes inducement awards of 50,458 restricted share units and 100,000 stock options, set to vest over four years. This move is part of Lantronix's ongoing transformation efforts in the tech industry.

Positive

• Jacques Issa brings over 30 years of marketing experience to Lantronix.
• Issa's previous role involved managing a $250 million revenue unit, indicating strong business acumen.
• Inducement awards align Issa's interests with shareholder value over four years.

Negative

• None.

Industry Veteran Brings Over Thirty Years of Experience in Technology Marketing and Applications

IRVINE, Calif., July 13, 2021 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM) offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware, today announced that Jacques Issa has joined the Lantronix executive team as vice president of Marketing, effective July 12, 2021.

“I am excited to bring on board an executive with such an extensive and successful background,” said Paul Pickle, CEO of Lantronix. “Having previously worked with Jacques, I look forward to leveraging his depth of experience as we continue to focus on strategic growth verticals in the next phase of Lantronix’s transformation.”

Jacques most recently served as SVP of Marketing and Strategy at Virtium LLC, a supplier of industrial solid-state drive and memory solutions, and has more than thirty years of marketing and applications experience, including long-tenured management positions at Motorola, Legerity and Zarlink. After Microsemi acquired Zarlink in 2011, Jacques served as vice president and business unit manager, overseeing a unit responsible for $250 million in revenue, until Microsemi was acquired by Microchip in 2018.

In connection with the commencement of his employment, Lantronix has agreed to grant Jacques inducement awards consisting of 50,458 restricted share units (RSUs) and 100,000 stock options. The RSU award is scheduled to vest over four years as follows: 12,614 RSUs are scheduled to vest on June 1, 2022, and the remaining RSUs are scheduled to vest ratably each quarter thereafter over a period of three years. The options are scheduled to vest as follows: 25,000 option on July 12, 2022, and the remaining options are scheduled to vest ratably each month thereafter over a period of three years. The per share exercise price of the options is $5.46, which was the closing price of the Company’s common stock on July 12, 2021, the date of grant of such options. The inducement RSUs and options are granted as employment inducement awards in accordance with NASDAQ Listing Rule 5635(c)(4).

About Lantronix

Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware. Lantronix enables its customers to provide reliable and secure solutions while accelerating their time to market. Lantronix’s products and services dramatically simplify operations through the creation, development, deployment and management of customer projects at scale while providing quality, reliability and security.

With three decades of proven experience in creating robust IoT technologies and OOBM solutions, Lantronix is an innovator in enabling its customers to build new business models, leverage greater efficiencies and realize the possibilities of the Internet of Things. Lantronix’s solutions are deployed inside millions of machines at data centers, offices and remote sites serving a wide range of industries, including energy, agriculture, medical, security, manufacturing, distribution, transportation, retail, financial, environmental and government.

Lantronix is headquartered in Irvine, Calif. For more information, visit www.lantronix.com. Learn more at the Lantronix blog, www.lantronix.com/blog, featuring industry discussion and updates. To follow Lantronix on Twitter, please visit www.twitter.com/Lantronix. View our video library on YouTube at www.youtube.com/user/LantronixInc or connect with us on LinkedIn at www.linkedin.com/company/lantronix.

© 2021 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.

Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-453-7158

Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241

Lantronix Sales:
sales@lantronix.com
Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0)76 52 36 744
Asia Pacific + 852 3428-2338
China + 86 21-6237-8868
Japan +81 (0) 50-1354-6201
India +91 994-551-2488

FAQ

Who is the new vice president of Marketing at Lantronix?

Jacques Issa has been appointed as the vice president of Marketing at Lantronix, effective July 12, 2021.

What is Jacques Issa's background?

Jacques Issa has over 30 years of experience in technology marketing, previously holding senior roles at companies like Virtium and Microsemi.

What stock options were granted to Jacques Issa?

Jacques Issa received 100,000 stock options with an exercise price of $5.46, set to vest over a three-year period.

How does Jacques Issa's appointment affect Lantronix's strategy?

Issa's appointment is aimed at enhancing strategic growth in the IoT and Remote Environment Management sectors.

What is Lantronix's focus area?

Lantronix specializes in secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM) with a focus on Software as a Service (SaaS) and connectivity services.