nLIGHT, Inc. Compensation Committee Announces Intent to Grant Special Equity Awards
nLIGHT, Inc. (NASDAQ:LASR), a leading provider of high-power lasers for mission critical directed energy, optical sensing, and advanced manufacturing applications, today announced that the Compensation Committee of its Board of Directors intends to grant special multi-year, performance-based equity awards to Scott Keeney, the Company's Chairman and Chief Executive Officer, and other key members of the senior leadership team.
"Scott and the team have done an excellent job focusing the Company on critical growth opportunities in defense tech, while continuing to develop leading technology to defend our nation," commented Bill Gossman, nLIGHT's lead independent director and chairperson of the Compensation Committee. "We believe the proposed equity awards will be beneficial to our stockholders as they will be designed to incentivize our senior leadership to continue to execute against our long-term strategic goals while creating stockholder value."
The awards are expected to comprise up to 1.2 million shares of common stock for Scott Keeney and up to 1.0 million additional shares of common stock for other key members of the senior leadership team. The awards are expected to vest over multiple years subject to nLIGHT stock price appreciation. The Company will provide further details of these anticipated awards with respect to its named executive officers after the grants have been finalized and approved, which is expected to occur by no later than mid-August.
Safe Harbor Statement
Certain statements in this release are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Words such as "outlook," "guidance," "expects," "intends," "projects," "plans," "believes," "estimates," "targets," "anticipates," and similar expressions may identify these forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements regarding the Company's intention to grant equity awards to one or more of its executive officers and members of its leadership team, the anticipated timing, structure, amount and terms of such awards and the expected benefits of such awards to the Company and its stockholders. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements, including but not limited to our ability to compete successfully in the markets for our products; changes in the markets we serve or in the global economy; our ability to increase our volumes and decrease our costs to offset potential declines in the average selling prices of our products; rapid technological changes in the markets that we participate in; our ability to develop and maintain products that can achieve market acceptance; our ability to generate sufficient revenues to achieve or maintain profitability in the future; our high levels of fixed costs and inventory and their effect on our gross profits and results of operations if demand for our products declines or we maintain excess inventory levels; our ability to manage growth and spending during economic downturns; our manufacturing capacity and operations and their suitability for future levels of demand; our reliance on third parties to manufacture certain of our products and product components; our reliance on a small number of customers for a significant portion of our revenues; our ability to manage risks associated with international customers and operations; the effect of government export and import controls on our ability to compete in international markets; our ability to protect our proprietary technology and intellectual property rights; fluctuations in our quarterly results of operations and other operating measures; and the effect on our business of claims, lawsuits, government investigations, other legal or regulatory proceedings, or commercial or contractual disputes that we are or may become involved in. Additional information concerning these and other factors can be found in nLIGHT's filings with the Securities and Exchange Commission (the "SEC"), including other risks, relevant factors and uncertainties identified in the "Risk Factors" section of nLIGHT's most recent Annual Report on Form 10-K or subsequent filings with the SEC. nLIGHT undertakes no obligation to update publicly or revise any forward-looking statements contained herein to reflect future events or developments, except as required by law.
The nLIGHT logo and "nLIGHT" are registered trademarks or trademarks of nLIGHT, Inc. in various jurisdictions.
About nLIGHT
nLIGHT, Inc. is a leading provider of high-power lasers for mission critical directed energy, optical sensing, and advanced manufacturing applications. Headquartered in Camas, Washington, nLIGHT employs approximately 800 people with operations in the United States, Europe and Asia. For more information, please visit www.nlight.net.
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John Marchetti
VP Corporate Development and Investor Relations
nLIGHT, Inc.
(360) 566-4460
[email protected]