SOURCE: Brocade

Brocade

June 10, 2016 08:00 ET

Brocade Announces Employment Inducement Awards in Connection With Acquisition of Ruckus Wireless, Inc.

SAN JOSE, CA--(Marketwired - Jun 10, 2016) - Brocade Communications Systems, Inc. (NASDAQ: BRCD) today announced that in connection with Brocade's recently completed acquisition of Ruckus Wireless, Inc., on June 6, 2016, the Compensation Committee of Brocade's Board of Directors granted an aggregate of 2,339,000 Brocade restricted stock units to 194 employees of the Ruckus Wireless Business Unit of Brocade. The equity awards were granted under the Brocade Communications Systems, Inc. Amended and Restated Inducement Award Plan and as a material inducement to such individuals entering into employment with the Brocade group of companies, in accordance with NASDAQ Listing Rule 5635(c)(4). The awards vest over three years subject to such employees remaining active service providers to the Brocade group of companies through each vesting date. 

Brocade is providing this information in accordance with NASDAQ Listing Rule 5635(c)(4).

About Brocade
Brocade (NASDAQ: BRCD) networking solutions help the world's leading organizations turn their networks into platforms for business innovation. With solutions spanning public and private data centers to the network edge, Brocade is leading the industry in its transition to the New IP network infrastructures required for today's era of digital business. (www.brocade.com)

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