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

Rhea-AI Summary

Vislink Technologies, Inc. (NASDAQ: VISL) announced the grant of 200,000 restricted stock units (RSUs) to Ronnie Hamilton, Vice President of Global Operations, as an employment incentive. This award, made outside existing equity plans, is compliant with Nasdaq Listing Rule 5635(c)(4). Vesting occurs in three stages: 33.33% after one year and the remaining 66.66% in monthly installments over two years, contingent on Hamilton's continued employment. This decision underlines Vislink's commitment to attracting key talent in the technology sector.

Positive

• Granting of 200,000 RSUs indicates strategic hiring and talent retention.
• Compliance with Nasdaq rules enhances corporate governance credibility.
• Structured vesting schedule aligns employee interests with company performance.

Negative

• Potential dilution of shares upon RSU vesting may affect existing shareholders.

HACKETTSTOWN, NJ, Jan. 12, 2022 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (NASDAQ: VISL) announced today that on January 12, 2022, Ronnie Hamilton 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. Hamilton’s employment, as Vice President, Global Operations. These RSUs were granted as an inducement material to Mr. Hamilton becoming an employee of Vislink Technologies, Inc., in accordance with Nasdaq Listing Rule 5635(c)(4).

33.33% of the inducement RSUs will vest on the first anniversary of the grant date and the remaining 66.66% will vest in substantially equal monthly installments over the 24-month period thereafter, subject to Mr. Hamilton’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 are the details of the RSUs granted to Ronnie Hamilton at Vislink Technologies?

Ronnie Hamilton was awarded 200,000 RSUs, with 33.33% vesting after one year and the rest in monthly installments over the next 24 months.

How does the RSU grant to Ronnie Hamilton impact VISL shareholders?

The RSU grant may lead to share dilution when the units vest, potentially affecting the stock value.

What is the purpose of the RSU award for Ronnie Hamilton?

The RSU award serves as an inducement for Hamilton's employment, aimed at attracting and retaining key talent.

Is the RSU award compliant with Nasdaq regulations?

Yes, the RSU grant adheres to Nasdaq Listing Rule 5635(c)(4), ensuring regulatory compliance.