April 01, 2013 09:00 ET
MILPITAS, CA--(Marketwire - Apr 1, 2013) - Intersil Corporation (NASDAQ: ISIL), as required by NASDAQ Marketplace Rule 5635(c)(4), today announced that the Compensation Committee of its Board of Directors granted an inducement award on April 1, 2013 to Necip Sayiner, its new President and Chief Executive Officer. The inducement grant, which the Committee determined to be a material inducement to Mr. Sayiner's entering into employment with Intersil, consists of a deferred stock unit award representing the right to receive 433,000 shares of Intersil's common stock. The award will vest 25% on each of the first, second, third and fourth anniversaries of the April 1, 2013 issue date.
Intersil Corporation is a leader in the design and manufacture of high-performance analog, mixed-signal and power management semiconductors. The company's products address some of the largest markets within the industrial and infrastructure, personal computing and high-end consumer markets. For more information about Intersil visit www.intersil.com.
Intersil and the Intersil logo are trademarks or registered trademarks of Intersil Corporation. All other brands, product names and marks are or may be trademarks or registered trademarks used to identify products or services of their respective owners.
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