LSI Industries Inc. Reports Inducements Grant Under Nasdaq Listing Rules
25 Mai 2021 - 10:15PM
LSI Industries Inc. (NASDAQ: LYTS) today announced
the grant of inducement awards as follows: 146,029 performance
stock unit awards and 36,506 restricted stock unit awards. The
awards were made to six new employees formerly of JSI Holding
Corp., a company LSI announced it acquired on May 24, 2021, and are
subject to the terms and conditions of LSI’s 2019 Omnibus Award
Plan. The awards were granted as an inducement material to the new
employees becoming employees of LSI in accordance with Nasdaq
Listing Rule 5635(c)(4) and have been approved by LSI’s
Compensation Committee. The PSUs vest in three years subject to the
satisfaction of cumulative EBITDA and revenue performance goals.
The RSUs cliff vest after three years.
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 1,100 employees at seven manufacturing plants in the
United States, including its corporate headquarters. Additional
information about LSI is available at www.lsicorp.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.
INVESTOR CONTACT
Noel Ryan, IRC720.778.2415LYTS@vallumadvisors.com
MEDIA CONTACT
Mike WallnerSenior Manager,
Communications513.372.3417mike.wallner@lsi-industries.com
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