SEATTLE--(BUSINESS WIRE)--F5 Networks (NASDAQ: FFIV) announced today that on August 1, 2019, the company issued a total of 178,784 restricted stock units (“RSUs”) to 235 employees who joined F5 in connection with the company’s acquisition of NGINX, an open source leader in application delivery. Of the 178,784 RSUs, 6,908 went to Mr. Angus Robertson who serves as the SVP, General Manager of NGINX at F5. The company’s acquisition of NGINX was completed on May 8, 2019. The RSUs were granted as inducements to employment in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs of Mr. Robertson and two other key employees vest over a four-year period with 10 percent vesting on August 1, 2020, 10 percent vesting in equal quarterly installments in the second year of the award, 25 percent vesting in equal quarterly installments in the third year of the award, and the remaining 55 percent vesting in equal quarterly installments in the final fourth year of the award, subject to the employee’s continued service relationship with the company. The RSUs of the remaining employees vest 25 percent on August 1, 2020 and the remaining 75 percent will vest in equal quarterly installments over the following three-year period thereafter, subject to the employee’s continued service relationship with the company. The grants will be subject to the terms and conditions of the F5 Networks, Inc. NGINX Acquisition Equity Incentive Plan.
F5 (NASDAQ: FFIV) gives the world’s largest businesses, service providers, governments, and consumer brands the freedom to securely deliver every app, anywhere—with confidence. F5 delivers cloud and security application services that enable organizations to embrace the infrastructure they choose without sacrificing speed and control. For more information, go to f5.com. You can also follow @f5networks on Twitter or visit us on LinkedIn and Facebook for more information about F5, its partners, and technologies.
F5 and NGINX are trademarks and service marks of F5 Networks, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.