Sierra Wireless, Inc. (TSX: SW.TO; Nasdaq: SWIR) has announced that the board of directors of the company has approved minor amendments to its Amended and Restated 1997 Stock Option Plan and its 2011 Treasury Based Restricted Share Unit Plan, the company said.
The amendments have been proposed to address certain recommendations made by Institutional Shareholder Services (“ISS”) in the course of its review of the matters to be voted on at the upcoming annual general meeting of the shareholders of the company to be held on May 17, 2018.
The amendments to the Stock Option Plan and Treasury RSU Plan are designed to ensure that notwithstanding any other restrictions on issuance, the company will not issue securities under any of our security based compensation plans that would, when aggregated, result in the number of Common Shares issuable exceeding 8.1% of the issued and outstanding Common Shares from time to time.
Copies of the amended Stock Option Plan and Treasury RSU Plan can be found under the company´s SEDAR profile at www.sedar.com.
Sierra Wireless is an IoT pioneer, empowering businesses and industries to transform and thrive in the connected economy. Customers Start with Sierra because we offer a device to cloud solution, comprised of embedded and networking solutions seamlessly integrated with our secure cloud and connectivity services. For more information, visit www.sierrawireless.com.