LSI Industries Inc. Reports Inducement Grants Under Nasdaq Listing Rules
05 Juni 2020 - 10:25PM
LSI Industries Inc. (NASDAQ: LYTS, or the
“Company”), a leading U.S. based manufacturer of indoor/outdoor
lighting and graphics solutions, today announced an inducement
grant in accordance with NASDAQ Listing Rule 5635(c)(4) to Jonathon
Towner, Vice President - Chief Information Officer, effective June
1, 2020. The awards were granted by the Company’s Compensation
Committee.
Mr. Towner was granted an inducement stock option to purchase up
to 30,000 shares of the Company’s common stock. The award was
approved in connection with the commencement of his employment with
the Company on June 1, 2020 and has a ten-year term. The option is
exercisable at a price of $6.42 per share (the closing price on
June 1, 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 internet site at
www.lsi-industries.com.
Investor contact: Noel Ryan,
IRC; 770.778.2415; LYTS@vallumadvisors.com
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