Linthicum, MD — 04/01/2010
Ciena® Corporation (NASDAQ:CIEN, news, filings), the network specialist, today announced that it has granted stock-settled restricted stock unit awards under its 2010 Inducement Equity Award Plan representing an aggregate of 1,655,000 shares of Ciena common stock. These inducement awards were granted to 195 persons newly employed by Ciena in connection with its acquisition of the optical networking and Carrier Ethernet assets of Nortel’s Metro Ethernet Networks (MEN) business, and were approved by the Compensation Committee of the Board of Directors. The aggregate grant amount above includes a restricted stock unit award representing 100,000 shares of Ciena common stock granted to Philippe Morin, Ciena’s newly appointed Senior Vice President, Global Products Group and an executive officer of Ciena. The awards above were granted effective April 1, 2010 and were an inducement material to the new employees entering into employment with Ciena. Pursuant to the terms of the awards, the restricted stock units will vest as to one-fourth of the grant amount on June 20, 2011 and in equal one-twelfth amounts each calendar quarter thereafter over the following three years, provided that the employee continues his or her employment with Ciena.
Ciena is providing this information in accordance with NASDAQ listing rule 5635(c)(4).
Ciena specializes in practical network transition. We offer leading network infrastructure solutions, intelligent software and a comprehensive services practice to help our customers use their networks to fundamentally change the way they compete. With a global presence, Ciena leverages its heritage of practical innovation to deliver maximum performance and economic value in communications networks worldwide. We routinely post recent news, financial results and other important announcements and information about Ciena on our website. For more information, visit www.ciena.com
Forward Looking Statements: This press release contains certain forward-looking statements based on current expectations, forecasts and assumptions that involve risks and uncertainties. These statements are based on information available to the Company as of the date hereof; and Ciena’s actual results could differ materially from those stated or implied, due to risks and uncertainties associated with its business, which include the risk factors disclosed in its Report on Form 10-Q, which Ciena filed with the Securities and Exchange Commission on March 5, 2010. Forward-looking statements include statements regarding Ciena’s expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “should,” “will,” and “would” or similar words. Ciena assumes no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.
(877) 857 -7377
PR Archives: Latest, By Company, By Date