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SMART Global Holdings Reports Inducement Grants under Nasdaq Listing Rule 5635(c)(4) in Connection with Cree LED Acquisition – Consumer Electronics Net
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SMART Global Holdings Completes the Acquisition of Cree LED – Consumer Electronics Net
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2 months ago
NEWARK, Calif.–(BUSINESS WIRE)–$SGH#CFO SMART Global Holdings, Inc. (“SMART” or the “Company”) (NASDAQ: SGH), today announced the grant of inducement awards to the Company’s new Chief Financial Officer, Ken Rizvi, in connection with his commencement of employment with the Company on February 15, 2021. The independent Compensation Committee of the Board of Directors of SMART approved the grant to Mr. Rizvi, as of February 15, 2021, of time-based restricted share units with respect to 49,857 ordinary shares of SGH (the “RSUs”), performance-based restricted share units with a 150% stock price appreciation condition with respect to 4,985 ordinary shares of SGH (the “1.5x PRSUs”), and performance-based restricted share units with a 200% stock price appreciation condition with respect to 4,985 ordinary shares of SGH (the “2.0x PRSUs”).