LSI Industries Inc. Reports Inducement Grants Under NASDAQ Listing Rules
05 Februar 2020 - 11:16PM
LSI Industries Inc. (NASDAQ: LYTS, or the “Company”) a leading U.S.
based manufacturer of indoor/outdoor lighting and graphics
solutions, today announced inducement grants in accordance with
NASDAQ Listing Rule 5635(c)(4) to Jeffrey Davis, the head of LSI
sales and Brian Vincent, Chief Support Officer, effective February
4, 2020. The awards were granted by the Company’s
Compensation Committee.
Mr. Davis was granted an inducement stock option to purchase up
to 100,000 shares of the Company’s common stock. The award
was approved in connection with the commencement of his employment
with the Company and has a 10-year term. The option is
exercisable at a price of $6.51 per share (the closing price on
February 4, 2020) and will vest only if Mr. Davis remains an
employee of the Company for three years.
Mr. Vincent was granted an inducement stock option to purchase
up to 50,000 shares of the Company’s common stock in connection
with the commencement of his employment with the Company and has a
10-year term. The option is exercisable at a price of $6.51
per share (the closing price on February 4, 2020), and one-third of
the option will vest on each anniversary of the grant date.
About LSI Industries Inc.
Headquartered in Blue Ash, Ohio (Greater Cincinnati), LSI
Industries is a leading producer of high-performance, American-made
lighting solutions. The Company’s strength in outdoor
lighting applications creates opportunities for it to introduce
additional solutions to its valued customers. LSI’s indoor
and outdoor products and services, including its digital and print
graphics capabilities, are valued by architects, engineers,
distributors and contractors for their quality, reliability and
innovation. The Company’s products are used extensively in
automotive dealerships, petroleum stations, quick service
restaurants, grocery stores and pharmacies, retail establishments,
sports complexes, parking lots and garages, and commercial and
industrial buildings. LSI has approximately 1,200 employees
at seven manufacturing plants in the United States, including its
corporate headquarters and international subsidiaries.
Additional information about LSI is available at
www.lsi-industries.com.
Forward-Looking Statements
For details on the uncertainties that may cause our actual
results to be materially different than those expressed in our
forward-looking statements, visit http://www.lsi-industries.com/fls
as well as our Annual Reports on Form 10-K and Quarterly Reports on
Form 10-Q which contain risk factors.
Additional note: Today’s news release,
along with past releases from LSI Industries Inc., is available on
the Company’s website at www.lsi-industries.com.
Contact: Investors: Noel
Ryan, IRC, (720) 778-2415, LYTS@vallumadvisors.com
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