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LSI Industries Inc. (NASDAQ: LYTS) announced the grant of inducement awards, including performance stock unit awards, restricted stock unit awards, and stock options, to five new employees acquired from EMI Industries, The awards are under the terms of LSI's 2019 Omnibus Award Plan, approved by the Compensation Committee, and subject to NASDAQ Listing Rule 5635(c)(4). The awards have varying vesting periods based on continued employment, EBITDA, and revenue performance goals.
LSI Industries Inc. (NASDAQ: LYTS) ha annunciato l'assegnazione di premi incentivanti a cinque nuovi dipendenti provenienti da EMI Industries. Questi premi includono assegnazioni di unità azionarie per performance, unità azionarie ristrette e opzioni su azioni, secondo i termini del Piano di Premio Omnibus del 2019 di LSI, approvato dal Comitato per le Compensazioni e soggetto alla Regola 5635(c)(4) della NASDAQ. I premi prevedono diversi periodi di maturazione basati sulla continuità di impiego, sugli obiettivi di performance EBITDA e di entrate.
LSI Industries Inc. (NASDAQ: LYTS) anunció la concesión de premios de incentivo, incluyendo premios de unidades de stock de rendimiento, unidades de stock restringidas y opciones de acciones, a cinco nuevos empleados provenientes de EMI Industries. Los premios están bajo los términos del Plan de Premios Omnibus de 2019 de LSI, aprobado por el Comité de Compensación, y están sujetos a la Norma de Cotización 5635(c)(4) de NASDAQ. Los premios tienen períodos de adquisición variables basados en el empleo continuo, los objetivos de rendimiento de EBITDA y de ingresos.
LSI Industries Inc. (나스닥: LYTS)가 EMI Industries로부터 영입한 다섯 명의 새로운 직원들에게 인센티브 상을 부여했다고 발표했습니다. 이 상들은 성과 주식 단위 상, 제한 주식 단위 상, 그리고 주식 옵션을 포함하며, LSI의 2019년 포괄 보상 계획에 따라 제공되었으며, 보상 위원회의 승인을 받고 나스닥 상장규칙 5635(c)(4)에 따라 조건이 있다고 합니다. 이 상들은 계속적인 고용, EBITDA 및 매출 실적 목표 기준으로 다양한 기간에 걸쳐 확정됩니다.
LSI Industries Inc. (NASDAQ : LYTS) a annoncé l'attribution de prix d'incitation à cinq nouveaux employés venus de EMI Industries, comprenant des attributions d'unités de stock de performance, des unités de stock restreintes, et des options d'achat d'actions, conformes aux termes du Plan de Prix Omnibus de 2019 de LSI, approuvé par le comité de rémunération et soumis à la Règle de cotation NASDAQ 5635(c)(4). Les prix ont des périodes d'acquisition variables basées sur l'emploi continu, les objectifs de performance EBITDA et de revenus.
LSI Industries Inc. (NASDAQ: LYTS) gab die Vergabe von Anreizpreisen an fünf neue Mitarbeiter von EMI Industries bekannt. Die Preise umfassen Leistungsaktieneinheiten, eingeschränkte Aktieneinheiten und Aktienoptionen und unterliegen den Bedingungen des LSI Omnibus-Award-Plans von 2019, der vom Vergütungs-Ausschuss genehmigt wurde und den NASDAQ Listing Rule 5635(c)(4) unterliegt. Die Preise haben verschiedene Vesting-Perioden, die auf anhaltender Beschäftigung, EBITDA and Umsatz-Leistungszielen basieren.
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CINCINNATI--(BUSINESS WIRE)--
LSI Industries Inc. (NASDAQ: LYTS, or the “Company”) a leading U.S. based manufacturer of commercial lighting and display solutions, today announced the grant of inducement awards as follows: 30,000 performance stock unit awards; 10,000 restricted stock unit awards; and 190,000 stock options. The awards were made to five new employees formerly of EMI Industries, LLC, a company LSI announced it acquired on April 18, 2024, and are subject to the terms and conditions of LSI’s 2019 Omnibus Award Plan. The awards were granted as an inducement material to the new employees becoming employees of LSI in accordance with NASDAQ Listing Rule 5635(c)(4) and have been approved by the Company’s Compensation Committee.
The RSUs cliff vest on the second anniversary of the grant date subject to the recipient’s continued employment. The PSUs vest in two years subject to satisfaction of EBITDA and revenue performance goals and subject to the recipient’s continued employment. The options are exercisable at a price of $14.60 per share (the closing price on May 1, 2024). 90,000 of the options granted cliff vest on the third anniversary of the grant date, subject to the recipient’s continued employment. 100,000 of the options vest in two years subject to satisfaction of EBITDA and revenue performance goals and subject to the recipient’s continued employment.
About LSI Industries Inc.
Headquartered in Cincinnati, LSI Industries (NASDAQ: LYTS) specializes in the creation of advanced lighting, graphics, and display solutions. The Company’s American-made products, which include lighting, print graphics, digital graphics, millwork, metal and refrigerated products, and custom displays, are engineered to elevate brands in competitive markets. With a workforce of approximately 1,900 employees and 16 facilities throughout North America, LSI is dedicated to providing top-quality solutions to its clients. Additional information about LSI is available at www.lsicorp.com.
Forward-Looking Statements
For details on the uncertainties that may cause our actual results to be materially different than those expressed in our forward-looking statements, visit https://investors.lsicorp.com as well as our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q which contain risk factors.
Additional note: Today’s news release, along with past releases from LSI Industries Inc., is available on the Company’s internet site at www.lsicorp.com.
What inducement awards were granted by LSI Industries Inc. (LYTS)?
LSI Industries Inc. granted 30,000 performance stock unit awards, 10,000 restricted stock unit awards, and 190,000 stock options as inducement awards.
Who were the new employees that received the inducement awards?
The new employees receiving the inducement awards were formerly of EMI Industries, , a company acquired by LSI Industries Inc. on April 18, 2024.
What is the vesting period for the restricted stock unit awards?
The restricted stock unit awards cliff vest on the second anniversary of the grant date subject to the recipient's continued employment.
What are the conditions for the performance stock unit awards?
The performance stock unit awards vest in two years subject to satisfaction of EBITDA and revenue performance goals and the recipient's continued employment.
At what price are the stock options exercisable?
The stock options are exercisable at a price of $14.60 per share, based on the closing price on May 1, 2024.
