SEATTLE—F5 Networks, Inc. (NASDAQ: FFIV) today announced that on May 1, 2013, the company issued a total of 98,006 restricted stock units (“RSUs”) to 20 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 vest over four years, with 25 percent of the RSUs vesting on the one-year anniversary of the grant date and the remainder vesting in equal quarterly installments 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.
F5 (NASDAQ: FFIV) makes apps go faster, smarter, and safer for the world’s largest businesses, service providers, governments, and consumer brands. F5 delivers cloud and security solutions that enable organizations to embrace the application infrastructure they choose without sacrificing speed and control. For more information, go to f5.com. You can also follow @f5networks on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies.
F5 is a trademark or service mark of F5 Networks, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.
# # #
This press release may contain forward looking statements relating to future events or future financial performance that involve risks and uncertainties. Such statements can be identified by terminology such as "may," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," or "continue," or the negative of such terms or comparable terms. These statements are only predictions and actual results could differ materially from those anticipated in these statements based upon a number of factors including those identified in the company's filings with the SEC.