Casa Systems Announces Awarding of Inducement Grant to New Chief Product Officer
ANDOVER, Mass., Sept. 08, 2023 (GLOBE NEWSWIRE) -- Casa Systems (Nasdaq: CASA), a leading global provider of cloud-native software and broadband access, cable and cloud technology solutions for the world’s leading communication service providers, today announced that the Compensation Committee of the Company’s Board approved the grant of an inducement award to Colin Kincaid, the Company’s new Chief Product Officer, as an inducement material to his entry into employment with Casa in accordance with Nasdaq Listing Rule 5635(c)(4). The inducement grant was made effective as of and contingent upon the commencement of Kincaid’s employment with Casa on September 1, 2023, and consists of 1,000,000 restricted stock units, or RSUs. The RSUs vest in equal installments over four years starting on September 1, 2024, such that the RSUs will be fully vested on September 1, 2027, subject to Kincaid’s continued service with the Company through each such vesting date.
About Casa Systems, Inc.
Casa Systems, Inc. (Nasdaq: CASA) delivers the core-to-customer building blocks to speed 5G transformation with future-proof solutions and cutting-edge bandwidth for all access types. In today’s increasingly personalized world, Casa Systems creates disruptive architectures built specifically to meet the needs of service provider networks. Our suite of open, cloud-native network solutions unlocks new ways for service providers to build networks without boundaries and maximizes revenue-generating capabilities. Commercially deployed in more than 70 countries, Casa Systems serves over 475 Tier 1 and regional service providers worldwide. For more information, visit http://www.casa-systems.com.
CASA SYSTEMS PR CONTACT
Alicia Thomas
Casa Systems, Inc.
+1.817.909.8921
alicia.thomas@casa-systems.com
