This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Meru Networks Reports Inducement Award Under NASDAQ Rule 5635(c)(4)

SUNNYVALE, Calif., Sept. 10, 2013 /PRNewswire/ -- Meru Networks, Inc. (NASDAQ: MERU), a leader in Wi-Fi networking, today reported that on September 9, 2013, it awarded Stock Units representing 120,000 shares of the Company's common stock to Ajay Malik, who joined the Company as Senior Vice President, Worldwide Engineering, effective August 20, 2013. The Stock Units will vest over three years, with 40,000 Stock Units vesting on August 20, 2014, 40,000 Stock Units vesting on August 20, 2015, and 40,000 Stock Units vesting on vesting on August 20, 2016, assuming Mr. Malik's continued service to the Company on each such date. The award was made to Mr. Malik in accordance with the terms of his initial offer letter with the Company.

(Logo: http://photos.prnewswire.com/prnh/20100621/SF23611LOGO)

The award was provided as an inducement material to Mr. Malik entering into employment with the Company and was made under the terms of the Company's 2013 New Employee Stock Inducement Plan, which has not been approved by the Company's stockholders. The award was approved by the Company's Compensation Committee in accordance with NASDAQ Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

About Meru Networks

Meru Networks (NASDAQ: MERU) is a market leader in the development of mobile access and virtualized Wi-Fi solutions. Meru's Mobile FLEX wireless architecture addresses the ever-growing need for higher bandwidth and higher client densities. The Meru Identity Manager solution greatly simplifies secure device on-boarding and the company's unique Context-aware Application Layers enable dedicated channel assignments for specific applications, devices and usage scenarios. Meru customers include Fortune 500 businesses as well as leaders in education, healthcare and hospitality. Founded in 2002, Meru is headquartered in Sunnyvale, Calif., with operations in North America, Europe, the Middle East, Asia Pacific and Japan. Visit www.merunetworks.com or call (408) 215-5300 for more information.

Investor contact: Cameron JungMarket Street Partners(415) 445-3238 ir@merunetworks.com

SOURCE Meru Networks

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,080.14 +21.45 0.12%
S&P 500 2,117.69 +4.76 0.23%
NASDAQ 5,092.0850 +36.0220 0.71%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs