Fabrinet (NYSE: FN), a leading provider of advanced optical packaging
and precision optical, electro-mechanical and electronic manufacturing
services to original equipment manufacturers of complex products, today
reported grants under its 2017 Inducement Equity Incentive Plan to
Seamus Grady, who joined Fabrinet as its Chief Executive Officer on
September 22, 2017.
As an inducement material to Mr. Grady entering into employment with
Fabrinet, effective November 9, 2017, the Compensation Committee of
Fabrinet's board of directors granted 48,653 restricted share units
("RSUs"), 48,653 performance share units ("PSUs") and 48,653 "stretch"
PSUs ("Stretch PSUs") to Mr. Grady. The RSUs will vest in equal annual
installments over a period of four years on each anniversary of Mr.
Grady's hire date, subject to Mr. Grady's continued service with
Fabrinet through each such vesting date. The PSUs and the Stretch PSUs
will vest, if at all, in 2019 on the date the Compensation Committee
certifies achievement of performance criteria based 50% on achievement
of cumulative fiscal 2018 and fiscal 2019 revenue targets and 50% on
achievement of cumulative fiscal 2018 and fiscal 2019 non-GAAP gross
Fabrinet is issuing this press release pursuant to Rule 303A.08 of the
New York Stock Exchange's Listed Company Manual, which requires public
announcement of inducement awards.
Fabrinet is a leading provider of advanced optical packaging and
precision optical, electro-mechanical, and electronic manufacturing
services to original equipment manufacturers of complex products, such
as optical communication components, modules and subsystems, automotive
components, medical devices, industrial lasers and sensors. Fabrinet
offers a broad range of advanced optical and electro-mechanical
capabilities across the entire manufacturing process, including process
design and engineering, supply chain management, manufacturing, advanced
packaging, integration, final assembly and test. Fabrinet focuses on
production of high complexity products in any mix and any volume.
Fabrinet maintains engineering and manufacturing resources and
facilities in Thailand, the United States of America, the People's
Republic of China and the United Kingdom. For more information visit: www.fabrinet.com.
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