Synaptics Reports Inducement Grants Following Completion of Broadcom Agreement
Synaptics (SYNA) announced it will grant restricted stock unit (RSU) awards to 104 new employees who joined following the recently completed asset purchase transaction with Broadcom. The transaction, which closed on January 30, 2025, includes a licensing agreement for Broadcom's advanced wireless technologies including Wi-Fi 8, ultra-wideband, Wi-Fi 7, Bluetooth, and GPS/GNSS products for IoT and Android ecosystem.
The company will grant 1,006,506 RSUs under its 2025 Inducement Equity Plan, approved by the compensation committee. These RSUs are being granted as substitution for Broadcom equity awards and as inducement for employment. The vesting schedule includes 50% on the first anniversary and the remaining 50% vesting quarterly until the second anniversary, subject to continued employment.
Synaptics (SYNA) ha annunciato che concederà premi in azioni riservate (RSU) a 104 nuovi dipendenti che si sono uniti dopo la recente transazione di acquisto di asset con Broadcom. La transazione, conclusa il 30 gennaio 2025, include un accordo di licenza per le tecnologie wireless avanzate di Broadcom, tra cui Wi-Fi 8, ultra-wideband, Wi-Fi 7, Bluetooth e prodotti GPS/GNSS per l'IoT e l'ecosistema Android.
L'azienda concederà 1.006.506 RSU nell'ambito del suo Piano di Induzione in Capitale 2025, approvato dal comitato per le retribuzioni. Queste RSU vengono concesse come sostituzione per i premi azionari di Broadcom e come incentivo per l'occupazione. Il programma di maturazione prevede il 50% al primo anniversario e il restante 50% matura trimestralmente fino al secondo anniversario, soggetto a un'occupazione continuativa.
Synaptics (SYNA) anunció que otorgará premios en unidades de acciones restringidas (RSU) a 104 nuevos empleados que se unieron tras la reciente transacción de compra de activos con Broadcom. La transacción, que se cerró el 30 de enero de 2025, incluye un acuerdo de licencia para las tecnologías inalámbricas avanzadas de Broadcom, que abarcan Wi-Fi 8, ultra-wideband, Wi-Fi 7, Bluetooth y productos GPS/GNSS para IoT y el ecosistema Android.
La compañía otorgará 1,006,506 RSUs bajo su Plan de Capital de Inducción 2025, aprobado por el comité de compensación. Estas RSUs se otorgan como sustitución de los premios de acciones de Broadcom y como incentivo para el empleo. El calendario de adquisición incluye el 50% en el primer aniversario y el 50% restante se adquiere trimestralmente hasta el segundo aniversario, sujeto a la continuación del empleo.
Synaptics (SYNA)는 최근 완료된 자산 구매 거래에 따라 합류한 104명의 새로운 직원에게 제한 주식 단위(RSU) 수여를 발표했습니다. 이 거래는 2025년 1월 30일에 완료되었으며, Broadcom의 고급 무선 기술에 대한 라이센스 계약을 포함하고 있습니다. 여기에는 Wi-Fi 8, 초광대역, Wi-Fi 7, Bluetooth 및 IoT와 Android 생태계를 위한 GPS/GNSS 제품이 포함됩니다.
회사는 보상 위원회에서 승인한 2025 유인 자본 계획에 따라 1,006,506 RSU를 수여할 것입니다. 이 RSU는 Broadcom의 주식 보상 대신 및 고용 유인을 위해 수여됩니다. 취득 일정은 첫 번째 기념일에 50%를 포함하고, 나머지 50%는 두 번째 기념일까지 분기별로 취득됩니다. 이는 지속적인 고용을 조건으로 합니다.
Synaptics (SYNA) a annoncé qu'elle accordera des unités d'actions restreintes (RSU) à 104 nouveaux employés qui ont rejoint l'entreprise suite à la récente transaction d'achat d'actifs avec Broadcom. La transaction, qui a été finalisée le 30 janvier 2025, comprend un accord de licence pour les technologies sans fil avancées de Broadcom, y compris Wi-Fi 8, ultra-large bande, Wi-Fi 7, Bluetooth et des produits GPS/GNSS pour l'IoT et l'écosystème Android.
La société accordera 1 006 506 RSU dans le cadre de son Plan d'Induction en Capitaux 2025, approuvé par le comité de rémunération. Ces RSU sont accordées en remplacement des récompenses en actions de Broadcom et comme incitation à l'emploi. Le calendrier d'acquisition prévoit 50 % au premier anniversaire et les 50 % restants seront acquis trimestriellement jusqu'au deuxième anniversaire, sous réserve d'un emploi continu.
Synaptics (SYNA) gab bekannt, dass es 104 neuen Mitarbeitern, die nach der kürzlich abgeschlossenen Transaktion zum Erwerb von Vermögenswerten mit Broadcom eingestellt wurden, beschränkte Aktienoptionen (RSUs) gewähren wird. Die Transaktion, die am 30. Januar 2025 abgeschlossen wurde, umfasst eine Lizenzvereinbarung für Broadcoms fortschrittliche drahtlose Technologien, einschließlich Wi-Fi 8, Ultra-Wideband, Wi-Fi 7, Bluetooth und GPS/GNSS-Produkte für das IoT und das Android-Ökosystem.
Das Unternehmen wird 1.006.506 RSUs im Rahmen seines 2025 Inducement Equity Plans gewähren, das vom Vergütungsausschuss genehmigt wurde. Diese RSUs werden als Ersatz für die Aktienvergütungen von Broadcom und als Anreiz für die Beschäftigung gewährt. Der Vesting-Zeitplan umfasst 50 % am ersten Jahrestag und die verbleibenden 50 % werden vierteljährlich bis zum zweiten Jahrestag fällig, vorbehaltlich einer fortgesetzten Beschäftigung.
- Acquisition of advanced wireless technology portfolio through Broadcom licensing agreement
- Strategic expansion in IoT and Android ecosystem strengthening Edge AI capabilities
- Addition of 104 new technical employees enhancing workforce capabilities
- Significant equity dilution through 1,006,506 new RSUs
- Additional compensation expenses from new employee stock awards
Insights
This announcement reveals significant strategic depth in Synaptics' execution of its Edge AI expansion. The company is making a calculated move by acquiring both critical wireless technology licenses and key talent from Broadcom, demonstrating a comprehensive approach to building its technological capabilities.
The scope of the inducement grants - 1,006,506 RSUs distributed among 104 employees (averaging approximately 9,678 RSUs per person) - represents a substantial commitment to talent retention. The two-year vesting schedule, with 50% vesting in the first year and quarterly vesting thereafter, is strategically structured to ensure continuity during the critical integration period while maintaining reasonable employee flexibility.
The technology licensing agreement is particularly noteworthy, encompassing:
- Wi-Fi 8 and Wi-Fi 7 capabilities
- Advanced Bluetooth technology
- Ultra-wideband systems
- Next-generation GPS/GNSS products
This technology portfolio positions Synaptics at the forefront of wireless connectivity solutions for IoT and Android ecosystems. The combination of advanced wireless technologies with Synaptics' existing Edge AI capabilities creates a powerful competitive advantage in the rapidly growing IoT market.
From a financial perspective, while the RSU grants will have a dilutive effect of approximately 2.5% based on the current shares outstanding, this is a reasonable cost for securing both critical intellectual property and the technical talent needed to leverage it effectively. The structured vesting schedule helps manage the dilution impact while providing strong retention incentives.
The transaction demonstrates Synaptics' strategic evolution from a traditional human interface company to a comprehensive IoT solutions provider. By securing next-generation wireless technologies and the expertise to implement them, Synaptics is positioning itself for leadership in high-growth markets where Edge AI capabilities intersect with advanced connectivity requirements.
SAN JOSE, Calif., Feb. 14, 2025 (GLOBE NEWSWIRE) -- Synaptics® Incorporated (Nasdaq: SYNA) today announced that on February 17, 2025, it will grant restricted stock unit (“RSU”) awards to new employees who joined Synaptics in connection with the previously announced asset purchase transaction between Synaptics and Broadcom Inc. which closed on January 30, 2025. Pursuant to that transaction, Synaptics also entered into a licensing agreement with Broadcom that includes Broadcom’s Wi-Fi® 8, ultra-wideband, Wi-Fi 7, advanced Bluetooth®, and next-generation GPS/GNSS products and technology for the IoT and Android™ ecosystem, further accelerating Synaptics’ Edge AI strategy.
“We are excited to welcome our new team members to Synaptics and look forward to building a bright and successful future together,” said Venkat Kodavati, SVP Wireless Products Group.
The RSU awards will be granted to these 104 newly hired non-executive employees under Synaptics’ 2025 Inducement Equity Plan (the "Plan") in accordance with Nasdaq Listing Rule 5635(c)(4). The aggregate number of RSUs awarded will be 1,006,506 and are being made as a substitution of Broadcom equity awards and are being granted as a material inducement to the employees’ acceptance of employment with Synaptics. The Plan and the RSU awards were approved by the compensation committee of the Company’s board of directors.
Fifty percent of the RSUs will vest on the first anniversary of the grant date, and the remaining fifty percent will vest quarterly thereafter until fully vested on the second anniversary of the grant date, subject to the employees’ continued service with the Company through the relevant vesting dates. The RSU awards also are subject to the terms and conditions of the Plan and the inducement award agreement covering the RSU awards.
About Synaptics Incorporated
Synaptics (Nasdaq: SYNA) is driving innovation in AI at the Edge, bringing AI closer to end users and transforming how we engage with intelligent connected devices, whether at home, at work, or on the move. As a go-to partner for forward-thinking product innovators, Synaptics powers the future with its cutting-edge Synaptics Astra™ AI-Native embedded compute, Veros™ wireless connectivity, and multimodal sensing solutions. We’re making the digital experience smarter, faster, more intuitive, secure, and seamless. From touch, display, and biometrics to AI-driven wireless connectivity, video, vision, audio, speech, and security processing, Synaptics is the force behind the next generation of technology enhancing how we live, work, and play. Follow Synaptics on LinkedIn, X, and Facebook, or visit www.synaptics.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains statements that are not historical facts but rather forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include those that address activities, events or developments that the Company or its management believes or anticipates may occur in the future. All forward-looking statements are based upon our current expectations or various assumptions. Our expectations and assumptions are expressed in good faith, and we believe there is a reasonable basis for them. However, there can be no assurance that such forward-looking statements will materialize or prove to be correct as forward-looking statements are inherently subject to known and unknown risks, uncertainties and other factors which may cause actual future results, performance or achievements to differ materially from the future results, performance or achievements expressed in or implied by such forward-looking statements. Numerous risks, uncertainties and other factors may cause actual results to differ materially from those set out in the forward-looking statements, including risks related to our ability to consummate and realize anticipated benefits from the transaction and our ability to grow sales and expand into the serviceable wireless market as expected, and other risks as identified in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business” sections of our most recent Annual Report on Form 10-K and our most recent Quarterly Report on Form 10-Q; and other risks as identified from time to time in our Securities and Exchange Commission reports. For any forward-looking statements contained in this or any other document, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995, and we assume no obligation to update publicly or revise any forward-looking statements in light of new information or future events, except as required by law.
Synaptics and the Synaptics logo are trademarks of Synaptics in the United States and/or other countries. All other marks are the property of their respective owners.
For further information, please contact:
Investor Relations
Munjal Shah
Synaptics
+1-408-518-7639
munjal.shah@synaptics.com
Media Contact
Patrick Mannion
Synaptics
+1-631-678-1015
patrick.mannion@synaptics.com
FAQ
How many RSUs will Synaptics (SYNA) grant to new employees from the Broadcom deal?
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When did Synaptics complete the asset purchase transaction with Broadcom?
