SOURCE: FormFactor

October 08, 2008 17:58 ET

FormFactor, Inc. Withdraws Special Meeting Proposal

LIVERMORE, CA--(Marketwire - October 8, 2008) - FormFactor, Inc. (NASDAQ: FORM) today announced it has withdrawn its stock option exchange proposal that was scheduled to be considered at a special meeting of stockholders on Wednesday, October 8, 2008. The proposal asked stockholders to approve an opportunity for employees to exchange underwater options for a smaller number of new equity awards. FormFactor said that although based on preliminary indications the vote would have been very close, the lack of support from some institutional stockholders has caused it to reconsider the terms and timing of the proposal. FormFactor continues to consider the creation of meaningful equity incentives for employees to be important to the company's success.

About FormFactor:

Founded in 1993, FormFactor, Inc. (NASDAQ: FORM) is the leader in advanced wafer probe cards, which are used by semiconductor manufacturers to electrically test integrated circuits, or ICs. The company's wafer sort, burn-in and device performance testing products move IC testing upstream from post-packaging to the wafer level, enabling semiconductor manufacturers to lower their overall production costs, improve yields, and bring next-generation devices to market. FormFactor is headquartered in Livermore, California with operations in Europe, Asia and North America. For more information, visit the company's website at www.formfactor.com.

FormFactor and the FormFactor logo are registered trademarks of FormFactor, Inc.

Forward-Looking Statements. Statements in this press release that are not strictly historical in nature are forward-looking statements within the meaning of the federal securities laws, including statements regarding business momentum, demand for our products and future growth. These forward-looking statements are based on current information and expectations that are inherently subject to change and involve a number of risks and uncertainties. Actual events or results might differ materially from those in any forward-looking statement due to various factors, including, but not limited to: the relative importance and necessity of meaningful equity incentives to the company's success. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in the company's Form 10-K for the fiscal year ended December 29, 2007, filed with the Securities and Exchange Commission ("SEC"), and subsequent SEC filings. Copies of the company's SEC filings are available at http://investors.formfactor.com/edgar.cfm. The company assumes no obligation to update the information in this press release, to revise any forward-looking statements or to update the reasons actual results could differ materially from those anticipated in forward-looking statements.

Contact Information

  • Investor Contact:
    Michael Magaro
    Investor Relations
    (925) 290-4321
    Email Contact

    Trade Press Contact:
    David Viera
    Corporate Communications
    (925) 290-4681
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