DTS, Inc. (Nasdaq: DTSI) said its compensation committee of the company´s board of directors approved equity award grants under the DTS, Inc. 2014 New Employee Incentive Plan to five new employees.
The awards were all granted as inducements material to the new employees entering into employment with the company in accordance with NASDAQ Listing Rule 5635(c)(4).
The five employees were granted restricted stock units representing a total of 6,920 shares of common stock. The restricted stock units will vest in four equal annual installments beginning on August 15, 2016. In each case, the vesting of shares is contingent upon the individual´s continued employment with the company through each vesting date.
Since 1993, DTS, Inc., through its pioneering audio solutions for mobile devices, home theater systems, cinemas and beyond, provides high-quality, immersive and engaging audio experiences.