SOURCE: Lantronix, Inc.

Lantronix, Inc.

December 06, 2010 15:00 ET

Lantronix, Inc. Reports New Stock Option Grants Under NASDAQ Market Rule 4350

IRVINE, CA--(Marketwire - December 6, 2010) - Lantronix, Inc. (NASDAQ: LTRX), a leading global provider of smart connectivity solutions that enable business and technology professionals to access any device, anywhere, anytime, today announced that, in accordance with NASDAQ Marketplace Rule 4350, three (3) new employees were granted an inducement stock option covering an aggregate sum of 2,920 shares of common stock. These options were granted under the 2010 Inducement Equity Incentive Plan and without stockholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv) with the following terms: each option has been classified as a non-qualified stock option, has an exercise price equal to the fair market value on the grant date, has a ten-year term, and vests as to 25% of the award on the anniversary of the first day of the month following employee's start date and as to 1/48th of the award each month thereafter, subject to continued employment through each relevant date.

About Lantronix
Lantronix, Inc. (NASDAQ: LTRX) is a global leader of secure communication technologies that simplify remote access, management and control of any electronic device. Our smart connectivity solutions empower businesses to make better decisions based on real-time information, and gain a competitive advantage by generating new revenue streams, improving productivity and increasing efficiency and profitability. Easy to integrate and deploy, Lantronix products remotely connect and control electronic equipment via the Internet, provide secure remote access to firewall-protected equipment, and enable remote management of IT equipment over the Internet. Founded in 1989, Lantronix serves some of the largest security, industrial and building automation, medical, transportation, retail/POS, financial, government, consumer electronics/appliances, IT/data center and pro-AV/signage entities in the world. The company's headquarters are located in Irvine, Calif. For more information, visit www.lantronix.com.

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Contact Information

  • Investor Relations Contacts:
    Todd Kehrli / Jim Byers
    MKR Group, Inc.
    323-468-2300
    Email Contact

    Lantronix, Inc.
    Reagan Y. Sakai
    Chief Financial Officer
    (949) 453-3990