RadiSys Completes Buy
Pursuant to the terms of the arrangement agreement, RadiSys paid $105 million in cash at closing. RadiSys could pay up to an additional $10 million in cash determined by a contingent formula tied to achieving certain profitability goals during the twelve-month period beginning October 1, 2006.
In connection with the closing, the Compensation and Development Committee of RadiSys' Board of Directors approved the RadiSys Corporation Stock Plan for Convedia Employees. The maximum number of initial and ongoing new hire shares of common stock that may be granted under this plan is 365,000. The Committee awarded Convedia employees 169,300 stock options, 5,800 restricted stock awards and 132,905 restricted stock units in accordance with this plan. Approximately 106 Convedia employees received these awards under this plan. These awards were granted in connection with RadiSys' acquisition of Convedia and qualify as an exception to the shareholder approval requirement of the Nasdaq Marketplace Rules pursuant to Nasdaq Marketplace Rule 4350(i)(1)(A)(iv).
Radisys Corp. (Nasdaq: RSYS)