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SAN JOSE, CA--(Marketwired - Jun 10, 2016) - Brocade Communications Systems, Inc. (NASDAQ: BRCD) today announced that in connection with Brocade's recently completed acquisition of Ruckus Wireless, Inc., on June 6, 2016, the Compensation Committee of Brocade's Board of Directors granted an aggregate of 2,339,000 Brocade restricted stock units to 194 employees of the Ruckus Wireless Business Unit of Brocade. The equity awards were granted under the Brocade Communications Systems, Inc. Amended and Restated Inducement Award Plan and as a material inducement to such individuals entering into employment with the Brocade group of companies, in accordance with NASDAQ Listing Rule 5635(c)(4). The awards vest over three years subject to such employees remaining active service providers to the Brocade group of companies through each vesting date.
Brocade Announces Employment Inducement Awards in Connection With Acquisition of Ruckus Wireless, Inc
By Toan NguyenJune 10, 2016
SAN JOSE, Calif.—May 27, 2016—Brocade (NASDAQ: BRCD) today announced that it has completed its acquisition of Sunnyvale, Calif.-based Ruckus Wireless™. This represents an important step in Brocade’s strategic vision to build a pure-play networking company that supports the rapidly evolving requirements of the digital transformation era.
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