F5 Networks (NASDAQ: FFIV) announced today that on February 3, 2020, the company issued a total of 411,624 restricted stock units (“RSUs”) to 235 employees who joined F5 in connection with the company’s acquisition of Shape Security, a leader in online fraud and abuse prevention. 16,425 of the 411,624 RSUs went to Mr. Derek Smith who serves as the SVP, General Manager of Shape Security at F5. The company’s acquisition of Shape Security was completed on January 24, 2020. The RSUs were granted as inducements to employment in accordance with NASDAQ Listing Rule 5635(c)(4). The RSUs vest 25 percent on February 1, 2021, and the remaining 75 percent will vest in equal quarterly installments over the following three-year period thereafter, subject to the employee’s continued service relationship with the company. The grants will be subject to the terms and conditions of the F5 Networks, Inc. Shape Acquisition Equity Incentive Plan.
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F5 and Shape Security are trademarks and service marks of F5 Networks, Inc., in the U.S. and other countries. All other product and company names herein may be trademarks of their respective owners.