Vislink Technologies, Inc. Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
07 Julio 2023 - 3:30PM
Vislink Technologies, Inc
. (“Vislink” or
the “Company”) (Nasdaq: VISL) announced today that on July
5, 2023, Steven Teese was granted a time-based and
performance-based award of 25,000 restricted stock units (“RSUs”)
of the Company outside of the Company’s existing equity
compensation plans, in connection with Mr. Teese’s employment by
the Company as its Vice President of Sales, Americas. These RSUs
were granted as an inducement grant material to Mr. Teese becoming
an employee of Vislink in accordance with Nasdaq Listing Rule
5635(c)(4).
50% of the inducement RSUs are time-based and
will vest in equal annual installments on each anniversary of the
grant date over a period of three years. The balance of the
inducement RSUs are performance-based. The performance-based RSUs
will vest in equal tranches of 4,166 shares upon the Company’s
attainment of specified revenue targets on or before December 31,
2026, subject in each case to Mr. Teese’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.
Note on Forward-looking Statements
Certain statements in this press release are
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. This 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 this press release, including those regarding the Company’s
strategy, future operations, future revenues, growth, profitability
results and financial position, risks of supply chain constraints
and inflationary pressures, projected expenses, prospects, plans
including footprint and technology asset consolidations, objectives
of management, new capabilities, product and solutions launches
including AI-assisted and 5G streaming technologies, expected
contract values, projected pipeline sales opportunities,
acquisitions integration, and expected market opportunities across
the Company’s operating segments including the live event
production market, 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, 2022, filed
with the Securities and Exchange Commission (“SEC”) on March 31,
2023 and in subsequent filings with, or submissions to, the SEC
from time to time.
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.
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. Through its Mobile
Viewpoint product lines, Vislink also provides live streaming
solutions using bonded cellular, 5G, and AI-driven technologies for
automated news and sports productions.
The Vislink team also provides professional and
technical services utilizing a staff of technology experts with
decades of applied knowledge and real-world experience in 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.
Media Contact: Charlotte van Hertum
Vislinkcharlotte.vanhertum@vislink.com
Investor Relations Contact:Matt Glover and Tom
ColtonGateway Group, Inc.VISL@gateway-grp.com
Vislink Technologies (NASDAQ:VISL)
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