ADTRAN, Inc. (NASDAQ:ADTN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(e)On November12, 2016, the Compensation Committee of the Board
of Directors (the Compensation Committee) of ADTRAN, Inc. (the
Company) made grants of restricted stock units under the ADTRAN,
Inc. 2015 Employee Stock Incentive Plan (the Incentive Plan) to
the named executive officers of the Company in the amounts set
forth below:
|
Name |
RestrictedStockUnits |
|||
|
Thomas R. Stanton |
29,071 | |||
|
Roger D. Shannon |
7,421 | |||
|
Raymond Schansman |
6,408 | |||
|
James D. Wilson, Jr. |
6,463 | |||
|
Michael Foliano |
5,095 |
Each participants grant of restricted stock units is subject to
the terms of a Restricted Stock Unit Agreement in the form
attached hereto as Exhibit10.1, which is incorporated
herein by reference. In accordance with the Restricted Stock Unit
Agreements, the restricted stock units vest with respect to 25%
of the award on each of the first four anniversaries of the grant
date and any unvested portion of the award shall be forfeited in
the event the participant incurs a separation from service from
the Company for any reason. The shares of common stock underlying
vested restricted stock units will be issued to the participant
as soon as administratively practicable following the applicable
vesting date.
| Item9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
|
ExhibitNumber |
Description |
|
| 10.1 | Form of Restricted Stock Unit Agreement |
About ADTRAN, Inc. (NASDAQ:ADTN)
ADTRAN, Inc. is a provider of networking and communications equipment. The Company’s solutions enable voice, data, video and Internet communications across a range of network infrastructures. It operates through two segments: the Carrier Networks Division and the Enterprise Networks Division. Its Carrier Networks Division supplies the network access products, services and supports that service providers require to connect their customers to transmission and switching networks. Its Enterprise Networks Division delivers a portfolio of networking and communications solutions for small and medium-sized businesses, as well as distributed enterprises. Its portfolio includes Cloud Connectivity solutions, such as Internet Protocol (IP) business gateways and access routers, which provide business access to service provider networks, and Enterprise Communications solutions, which enable businesses to construct voice, data and video networks at the customer’s site or among distributed sites. ADTRAN, Inc. (NASDAQ:ADTN) Recent Trading Information
ADTRAN, Inc. (NASDAQ:ADTN) closed its last trading session down -0.10 at 19.90 with 491,578 shares trading hands.