MILPITAS, CA--(Marketwired - Jan 15, 2014) - JDSU ( NASDAQ : JDSU ) ( TSX : JDU ) today announced that, in connection with the acquisition of Network Instruments, a leading developer of enterprise network and application performance management solutions for global 2000 companies, which was completed on January 6, 2014, it has issued grants of compensatory restricted stock unit awards to Network Instruments employees joining JDSU in connection with the acquisition. The restricted stock unit awards to be granted to those employees by JDSU are generally comparable to equity awards that JDSU grants to its similarly situated new employees. These grants were made under the JDS Uniphase Corporation 2005 Acquisition Equity Incentive Plan, which was approved by the Board of Directors of JDSU, but not submitted for the approval of the stockholders of JDSU.
These restricted stock unit awards were approved by the JDS Uniphase Corporation Board of Directors on January 13, 2014, with a grant date of January 15, 2014. Pursuant to such approval, JDSU awarded restricted stock units covering a total of 305,824 shares of JDSU common stock to 89 employees.
The restricted stock units contain the same terms and conditions as the standard form of restricted stock unit award agreement previously approved by the Board of Directors of JDSU. The material terms of the standard form of restricted stock unit agreement are as follows. Restricted stock units vest over a three (3) or four (4) year period in equal annual installments commencing upon the first anniversary of the grant date subject to the continuous active service of the grantee.
JDSU ( NASDAQ : JDSU ) ( TSX : JDU ) innovates and collaborates with customers to build and operate the highest-performing and highest-value networks in the world. Our diverse technology portfolio also fights counterfeiting and enables high-powered commercial lasers for a range of applications. Learn more about JDSU at www.jdsu.com and follow us on JDSU Perspectives, Twitter, Facebook and YouTube.