Financial Releases
TriQuint Reports Inducement Equity Grants Under NASDAQ Marketplace Rule 5635
HILLSBORO, OREGON (USA) – February 3, 2010 – TriQuint Semiconductor, Inc (NASDAQ: TQNT), a leading RF front-end product manufacturer and foundry services provider, announced today that the Compensation Committee of its Board of Directors approved a stock option award for an aggregate of 160,000 shares of TriQuint's common stock under the Company's 2008 Inducement Award Program to one new employee who will serve as the Company's Vice President of Texas Operations. The stock option grant was effective February 1, 2010. The options will vest 25 percent on February 1, 2011 with the remaining 75 percent vesting quarterly over the next three years, and have an exercise price of $6.32, which was the closing price of TriQuint's common stock on February 1, 2010. The option grant expires on February 1, 2020.
TriQuint's Compensation Committee, which is solely comprised of independent directors, approved the grant of the stock options on January 11, 2010 in accordance with NASDAQ Listing Standard 5635(c)(4).
FACTS ABOUT TRIQUINT
Founded in 1985, we “Connect the Digital World to the Global Network”® by supplying high-performance RF modules, components and foundry services to the world's leading communications companies. Specifically, TriQuint supplies products to four out of the top five mobile phone manufacturers, and is a leading gallium arsenide (GaAs) supplier to major defense and space contractors. TriQuint creates standard and custom products using advanced processes that include gallium arsenide, surface acoustic wave (SAW) and bulk acoustic wave (BAW) technologies to serve diverse markets including wireless handsets, laptops, GPS/PND, base stations, broadband communications and military. TriQuint is also the lead researcher in a multi-year DARPA program to develop advanced gallium nitride (GaN) amplifiers. TriQuint, as named by Strategy Analytics¹, is the number-three worldwide leader in GaAs devices and the world's largest commercial GaAs foundry. TriQuint has ISO9001 certified manufacturing facilities in Oregon, Texas, and Florida and a production plant in Costa Rica; design centers are located in North America and Germany. Visit TriQuint at www.triquint.com/rf to receive new product information and to register for our newsletters.
¹ Announced February 2009 and May 2009, respectively.
Steve Buhaly
VP of Finance & Administration, CFO
TriQuint Semiconductor, Inc.
Tel:+1.503.615.9401
E-mail: sbuhaly@tqs.com
Media Contact: Brandi Frye
Director, Marketing Comms
TriQuint Semiconductor, Inc.
Tel: +1.503.615.9488
E-mail: bfrye@tqs.com