Vislink Technologies, Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Rhea-AI Summary

Vislink Technologies (NASDAQ: VISL) announced the grant of 200,000 restricted stock units (RSUs) to Michel Bais, Managing Director of Mobile Viewpoint B.V., as an inducement for employment. The RSUs are structured to vest over a 36-month period, with 25% vesting after one year and the remainder monthly, contingent upon Bais's ongoing employment. This move aligns with Nasdaq Listing Rule 5635(c)(4) and aims to enhance talent retention and align interests with shareholders.

Positive

• Grant of 200,000 RSUs as an inducement shows commitment to attracting key talent.
• Vesting schedule promotes retention with 25% vesting after one year.

Negative

• Potential dilution of shares due to the RSU grant could impact existing shareholders.

HACKETTSTOWN, NJ, Aug. 20, 2021 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (NASDAQ: VISL) announced today that on August 16, 2021, Michel Bais was granted an award of 200,000 restricted stock units (“RSUs”) of the company outside of the Company’s existing equity compensation plans, in connection with Mr. Bais’s employment by Mobile Viewpoint B.V., a subsidiary of the company, as its Managing Director. These RSUs were granted as an inducement material to Mr. Bais becoming an employee of Vislink Technologies, Inc., in accordance with Nasdaq Listing Rule 5635(c)(4).

25% of the inducement RSUs will vest on the first anniversary of the grant date and the remaining 75% will vest in substantially equal monthly installments over the 36-month period thereafter, subject to Mr.Bais’s continued employment by the Company on the applicable vesting date. Upon vesting, the RSUs shall be settled in shares of the Company’s common stock.

About Vislink Technologies, Inc. 

Vislink is a global technology business specializing in the collection, delivery, and management of high quality, live video and associated data from the scene of the action to the viewing screen. For the broadcast markets, Vislink provides solutions for the collection of live news, sports, and entertainment events. Vislink also furnishes the surveillance and defense markets with real-time video intelligence solutions using a variety of tailored transmission products. The Vislink team also provides professional and technical services utilizing a staff of technology experts with decades of applied knowledge and real-world experience to the areas of terrestrial microwave, satellite, fiber optic, surveillance, and wireless communications systems, to deliver a broad spectrum of customer solutions. Vislink’s shares of common stock are publicly traded on the Nasdaq Capital Market under the ticker symbol “VISL.” For more information, visit www.vislink.com.

Note on Forward-looking Statements

The Press Release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact included in the Press Release, including those regarding the Company’s strategy, future operations, future financial position, effects of any contemplated cost-savings measures, changes to its product offerings or changes to its lines of business, projected expenses, prospects, plans, objectives of management, new product launches, expected contract values, and expected market opportunities across the Company’s operating segments, the effects of the COVID-19 pandemic, the sufficiency of the Company’s capital resources to fund the Company’s operations and any statements regarding future results are forward-looking statements. Vislink may not actually achieve the plans, carry out the intentions or meet the expectations or projections disclosed in any forward-looking statements such as the foregoing and you should not place undue reliance on such forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties, including those discussed in Vislink’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on April 15, 2021 and in subsequent filings with, or submissions to, the SEC.

The statements made in this press release speak only as of the date stated herein, and subsequent events and developments may cause the Company’s expectations and beliefs to change. While the Company may elect to update these forward-looking statements publicly at some point in the future, the Company specifically disclaims any obligation to do so, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date after the date stated herein.

FOR MORE INFORMATION:
investors@vislink.com

FAQ

What did Vislink Technologies announce on August 16, 2021?

Vislink announced the grant of 200,000 restricted stock units to Michel Bais for his role as Managing Director of Mobile Viewpoint B.V.

What are the vesting terms for the RSUs granted to Michel Bais?

25% of the RSUs will vest on the first anniversary of the grant date, with the remaining 75% vesting monthly over the next 36 months.

What is the significance of the RSU grant for Vislink Technologies employees?

The grant serves as an inducement for employment and aims to align the interests of key personnel with those of the shareholders.

What is the ticker symbol for Vislink Technologies?

Vislink Technologies is publicly traded under the ticker symbol VISL on the Nasdaq Capital Market.