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Procera Networks, Inc. Reports Inducement Grants Under NASDAQ Marketplace Rule 5635(c)(4)
By: Marketwired .
Jan. 11, 2013 06:00 AM
FREMONT, CA -- (Marketwire) -- 01/11/13 -- Procera Networks, Inc. (NASDAQ: PKT), the global intelligent policy enforcement company, today announced that in association with its January 9, 2013 acquisition of Vineyard Networks Inc., and in accordance with NASDAQ Marketplace Rule 5635(c)(4), Procera has granted options to purchase shares of its common stock to 34 employees of Vineyard who are now joining Procera. On January 9, 2013, Procera granted options to purchase an aggregate of 412,000 shares of Procera common stock as inducements material to the 34 Vineyard employees entering into employment with Procera. Each of the options has an exercise price equal to $17.77, the closing price of Procera's common stock as reported on the NASDAQ Global Select Market on the date of the grant. One quarter of each option will vest on the one-year anniversary of the grant date, and 1/48th will vest each month thereafter for the following 36 months, subject to the employee's continued service relationship with Procera.
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