Tekelec Awards OptionsTekelec Awards Options

Tekelec awarded 476,400 nonstatutory stock options, 1,236,000 SARs, and 527,000 RSUs to 115 employees

August 15, 2006

1 Min Read

MORRISVILLE, N.C. -- Tekelec (NASDAQ: TKLC), a leading developer of high-performance network applications for next-generation fixed, mobile and packet networks, announced that on August 9, 2006, the Company awarded 476,400 nonstatutory stock options, 1,236,000 stock appreciation rights ("SARs") and 527,000 restricted stock units ("RSUs") to 115 employees who commenced their employment with the Company through August 9, 2006.

The grants were made under Tekelec's Amended and Restated 2004 Equity Incentive Plan for New Employees in reliance on the "employee inducement" exception to the Nasdaq rules requiring shareholder approval of equity-based incentive plans. The stock options and the SARs were granted at an exercise or grant price per share of $11.96, equal to the closing sales price of Tekelec common stock on the Nasdaq Global Market on the grant date. The stock options, SARs and RSUs typically vest in installments over three and one half to four years and have terms that extend from four to six years.

The recipients included the following executive officers of the Company: Frank Plastina, Chief Executive Officer and President - 1,000,000 SARs and 250,000 RSUs; Jay Whitehurst, President and General Manager, Switching Solutions Group - 90,000 SARs and 50,000 RSUs; and Dave Rice, Vice President, Operations - 50,000 SARs and 25,000 RSUs.

Tekelec

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