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Slide #86. NeoPhotonics Corporation — Semiconductor optical components business unit (OCU) of LAPIS Semiconductor Co., Ltd.
NeoPhotonics Corporation (NYSE:NPTN)
Semiconductor optical components business unit (OCU) of LAPIS Semiconductor Co., Ltd.
NeoPhotonics Corporation (NYSE:NPTN), a leading designer and manufacturer of photonic integrated circuit, or PIC, based modules and subsystems for bandwidth-intensive, high speed communications networks, today reported that in connection with the completion of its acquisition of the semiconductor optical components business unit (OCU) of LAPIS Semiconductor Co., Ltd., the company granted special inducement stock option grants under the NeoPhotonics 2011 Inducement Award Plan to retain certain OCU employees (20 in total) as employees of the NeoPhotonics group. The company granted options for an aggregate of 62,000 shares. Each option vests 25% on April 1, 2014 (approximately the first anniversary of the closing of the OCU acquisition) and the remainder in thirty-six substantially equal monthly installments thereafter, subject to such optionee being employed by the NeoPhotonics group on the vesting dates. The stock options have a ten year term and an exercise price equal to $4.86 per share, which was the closing price of NeoPhotonics common stock on the New York Stock Exchange on the date of grant. The stock options were approved by the Compensation Committee of the NeoPhotonics board of directors and were granted as a material inducement to employment with the NeoPhotonics group.
NeoPhotonics develops, manufactures and sells optoelectronic products that transmit, and receive digital optical signals for Cloud and data center internet content provider and telecom networks. Co. focuses on products that operate at speed over distance, for 400 Gigabits per Second (G), 600G, and 800G and above data rates. Co. produces pluggable coherent transceivers operating at speeds from 100G to 400G. Co. produces transmitter and receiver products as well as switching products for 400G and beyond optical transmission applications over distances of up to 2,000 kilometers. Co. develops and manufactures wavelength management products.
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