Plantronics Approves the Issuance of Restricted Stock Units to Tonalite Employees
SANTA CRUZ, Calif.--(BUSINESS WIRE)-- Plantronics, Inc. (NYS: PLT) ("Plantronics") today announced that the Compensation Committee of its Board of Directors has approved the issuance of an aggregate of 74,298 restricted stock units ("RSUs") as a material inducement to the employment of 27 of the employees of Tonalite B.V. ("Tonalite") in connection with the acquisition of all of the equity interests in Tonalite by Plantronics BV a wholly owned subsidiary of Plantronics effective as of July 31, 2012. Upon the vesting of the RSUs, Plantronics will deliver to the employee one share of Plantronics common stock for each RSU that vests. The RSUs vest on an annual basis as to 25% of the underlying shares beginning on August 6, 2013, subject to the continued employment of the RSU holder on the vesting date. The RSUs were granted outside of the Plantronics' Amended and Restated 2003 Stock Plan.
Tonalite was a product & design company of innovative wireless wearable products. The company consisted of a passionate and highly experienced team, supported by an extensive network of technology suppliers, assembly partners and development support companies. Tonalite covered the complete "product development life cycle" which includes creation, development and production of products.
Plantronics is a global leader in audio communications for business and consumers. It has pioneered new trends in audio technology for over 50 years creating innovative products that allow people to simply communicate. From Unified Communications to Bluetooth headsets, Plantronics delivers uncompromising quality, an ideal experience and extraordinary service. Plantronics is used by every company in the Fortune 100 as well as by 911 dispatch, air traffic control and the New York Stock Exchange. For more information, please visit www.plantronics.com or call +1 (800) 544-4660.
Plantronics, the logo design, and Simply Smarter Communications are trademarks or registered trademarks of Plantronics, Inc. The Bluetooth name and the Bluetooth trademarks are owned by the Bluetooth SIG, Inc. and are used by Plantronics under license. All other trademarks are the property of their respective owners.
Karen Auby, +1 831-458-7814
For Former Tonalite:
Tjapko Uildriks, + 31 6 514 95 880
KEYWORDS: United States North America California
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