Former iBiquity Digital employees who now work for DTS will receive stock in their new company.
The Compensation Committee of the DTS board approved equity award grants under the DTS, Inc. 2014 New Employee Incentive Plan.
The board approved grants for 66 new DTS employees — 62 of those are former iBiquity employees who joined DTS when DTS acquired iBiquity. That deal closed Oct. 1.
The awards were all granted as inducements material to the new employees entering into employment with DTS in accordance with NASDAQ Listing Rule 5635(c)(4).
The 66 employees were granted restricted stock units representing a total of 162,840 shares of common stock. The restricted stock units will vest in four equal annual installments beginning on November 15, 2016. In each case, the vesting of shares is contingent upon the individual’s continued employment with DTS through each vesting date.
