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Procera Networks Inc.
Procera Networks Inc.
01/11/2013 | Press release
Procera Networks, Inc. Reports Inducement Grants Under NASDAQ Marketplace Rule 5635(c)(4)
distributed by noodls on 01/11/2013 06:08
FREMONT, Calif., January 11, 2013 - Procera Networks, Inc. (NASDAQ: PKT), the global intelligent policy enforcement company, today announced that in association with its January 9, 2013 acquisition of Vineyard Networks Inc., and in accordance with NASDAQ Marketplace Rule 5635(c)(4), Procera has granted options to purchase shares of its common stock to 34 employees of Vineyard who are now joining Procera. On January 9, 2013, Procera granted options to purchase an aggregate of 412,000 shares of Procera common stock as inducements material to the 34 Vineyard employees entering into employment with Procera. Each of the options has an exercise price equal to $17.77, the closing price of Procera's common stock as reported on the NASDAQ Global Select Market on the date of the grant. One quarter of each option will vest on the one-year anniversary of the grant date, and 1/48th will vest each month thereafter for the following 36 months, subject to the employee's continued service relationship with Procera.
About Procera Networks, Inc.
Procera Networks Inc. (NASDAQ: PKT) delivers Intelligent Policy Enforcement solutions designed for carriers, service providers and enterprises worldwide. Procera's PacketLogic solutions provide actionable intelligence and policy enforcement to ensure a high quality experience for any Internet connected devices. Network operators deploy Procera's technology to enable real-time visibility, superior performance and scalability, and deliver personalized services for millions of enterprises and consumers.www.proceranetworks.com or follow Procera on twitter at @ProceraNetworks.
Press Contact
Fran Lowe, Engage PR for Procera Networks, 510-748-8200 x225, This email address is being protected from spambots. You need JavaScript enabled to view it.
Investor Relations Contact
Charles Messman or Todd Kehrli, MKR Group Inc., 323-468-2300, This email address is being protected from spambots. You need JavaScript enabled to view it.
