DTS Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
CALABASAS, Calif., Nov. 16, 2015 /PRNewswire/ -- DTS, Inc. (Nasdaq: DTSI) today announced that on November 11, 2015, the Compensation Committee of the Company's Board of Directors approved equity award grants under the DTS, Inc. 2014 New Employee Incentive Plan to a total of 66 new employees, including 62 employees of the former iBiquity Digital Corporation who joined DTS following DTS' acquisition of iBiquity. The awards were all granted as inducements material to the new employees entering into employment with DTS in accordance with NASDAQ Listing Rule 5635(c)(4).
The 66 employees were granted restricted stock units representing a total of 162,840 shares of common stock. The restricted stock units will vest in four equal annual installments beginning on November 15, 2016. In each case, the vesting of shares is contingent upon the individual's continued employment with DTS through each vesting date.
About DTS, Inc.
Since 1993, DTS, Inc. (Nasdaq: DTSI) has been dedicated to making the world sound better. Through its pioneering audio solutions for mobile devices, home theater systems, cinemas and beyond, DTS provides incredibly high-quality, immersive and engaging audio experiences to listeners everywhere. DTS technology is integrated in more than two billion devices globally, and the world's leading video and music streaming services are increasingly choosing DTS to deliver premium sound to their listeners' network-connected devices. For more information, please visit www.dts.com.
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SOURCE DTS, Inc.
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