SNX » Topics » Stock Option Grants and Restricted Stock Awards

This excerpt taken from the SNX 8-K filed Sep 26, 2005.

Stock Option Grants and Restricted Stock Awards

 

On September 20, 2005, the Compensation Committee of the Board of Directors of SYNNEX Corporation (the “Company”) approved the grant of options to purchase shares of the Company’s common stock and restricted common stock awards under the Company’s 2003 Stock Incentive Plan to each of the following executive officers in the amounts set forth opposite the name of each officer:

 

Name of Executive Officer


  

Shares Underlying

Options


  

Shares of Restricted

Stock


Robert T. Huang

   50,000    —  

John E. Paget

   20,000    7,200

Peter Larocque

   20,000    7,200

Dennis Polk

   20,000    7,200

Simon Y. Leung

   5,000    1,800

 

The exercise price of the shares underlying the options granted was equal to $17.17 per share, the closing price of the Company’s common stock on the NYSE on September 20, 2005. Twenty percent (20%) of the shares subject to each option shall vest and become exercisable on the first anniversary of the date of grant. The balance of the shares subject to each option (i.e., the remaining eighty percent (80%)) shall vest and become exercisable monthly over a four-year period beginning on the day which is one month after the first anniversary of the date of grant, at a monthly rate of 1.666% of the total number of shares subject to such option. Twenty percent (20%) of the shares subject to each restricted stock award shall vest and become exercisable on each anniversary of the date of grant such that each restricted stock award shall become fully vested and exercisable on the fifth anniversary of the date of grant.

 

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