BELLEVUE, Wash., July 16, 2015 /PRNewswire/ -- BSQUARE Corporation (NASDAQ: BSQR), a leading enabler of smart connected systems and emerging provider of actionable data solutions for the Internet of Things (IoT), today reported two grants under its 2011 Inducement Award Plan to Kevin Walsh, who joined Bsquare as its Vice President, Marketing effective July 13, 2015.
The grants, each made July 13, 2015, are an award of 5,000 restricted stock units and an award of non-qualified stock options to purchase up to 80,000 shares of Bsquare common stock. The option has a 10-year term and an exercise price of $6.94 per share, which was the closing price of Bsquare's common stock on July 13, 2015. The restricted stock units and option each vest as to 33% of the underlying shares of common stock on July 13, 2016, with the balance vesting in equal monthly installments for two years thereafter, subject to Mr. Walsh's continued service relationship with Bsquare.
The grants were approved by the Bsquare Board of Directors on June 26, 2015, including a majority of its independent directors. In accordance with NASDAQ Listing Rule 5635(c)(4), the grants were made as an inducement material to Mr. Walsh's entering into an employment relationship with Bsquare.
About BSQUARE Corporation Bsquare, a global leader in embedded solutions, applies experience and expertise on leading platforms to create new connections with customers, new business models and to enable new ways of working and communicating. Bsquare serves customers by forging connections among the partners, people, tools and technology needed to create smart connected devices. For more information, visit www.bsquare.com.
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SOURCE BSQUARE Corporation