F5 Networks, Inc. (NASDAQ: FFIV) announced today that on August 1, 2013, the company issued a total of 1,994 restricted stock units (“RSUs”) to 13 employees who joined F5 in connection with the company’s acquisition of LineRate Systems, a developer of software defined networking (SDN) services. This acquisition was completed on February 11, 2013. The RSUs were granted as inducements to employment in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs will vest 25 percent on May 1, 2014 and the remaining 75 percent will vest in equal quarterly installments over the following three-year period thereafter, subject to the employee’s continued service relationship with the company. The grants will be subject to the terms and conditions of the F5 Networks, Inc. LineRate Acquisition Equity Incentive Plan.
About F5 Networks
F5 Networks ( NASDAQ: FFIV) makes the connected world run better. F5 helps organizations meet the demands and embrace the opportunities that come with the relentless growth of voice, data, and video traffic, mobile workers, and applications—in the data center, the network, and the cloud. The world’s largest businesses, service providers, government entities, and consumer brands rely on F5’s intelligent services framework to deliver and protect their applications and services while ensuring people stay connected. Learn more at www.f5.com.