CALABASAS, Calif., Sept. 16, 2016 /PRNewswire/ -- DTS, Inc. (Nasdaq: DTSI) today announced that on September 15, 2016, the Compensation Committee of the Company's Board of Directors approved equity award grants under the DTS, Inc. 2014 New Employee Incentive Plan to twelve new employees. 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 twelve employees were granted restricted stock units representing a total of 33,400 shares of common stock. The restricted stock units will vest in four equal annual installments beginning on August 15, 2017. In each case, the vesting of shares is contingent upon the individual's continued employment with DTS through each vesting date.