Unwired Planet, Inc. (NASDAQ: UPIP) announced that effective June 1,
2015, the Board of Directors of Unwired Planet, Inc. (the “Company)
approved the grant of stock options to the Company’s new CEO and
President, Mr. Boris Teksler. The award consists of options to purchase
an aggregate of 5,049,602 shares of common stock and were granted as an
inducement material to Mr. Teksler’s entering into employment with the
Company, pursuant to Nasdaq Listing Rule 5635(c)(4).
Each option has an exercise price per share of $0.6797, the closing
price of the Company’s common stock on June 1, 2015, and will expire ten
years from the grant date. One third of the options will vest after one
year, with the remaining options vesting in equal quarterly installments
over the following two years, subject to Mr. Teksler’s continued
employment with the Company. In addition, each stock option granted to
Mr. Teksler will be subject to accelerated vesting in connection with a
change in control of the Company and certain qualifying terminations of
service.
About Unwired Planet
Unwired Planet, Inc. (NASDAQ: UPIP) is the inventor of the Mobile
Internet and a premier intellectual property company focused exclusively
on the mobile industry. The company's patent portfolio of approximately
2,500 issued and pending US and foreign patents, includes technologies
that allow mobile devices to connect to the Internet and enable mobile
communications. The portfolio spans 2G, 3G, and 4G technologies, as well
as cloud-based mobile applications and services. Unwired
Planet's portfolio includes patents related to key mobile technologies,
including baseband mobile communications, mobile browsers, mobile
advertising, push notification technology, maps and location based
services, mobile application stores, social networking, mobile gaming,
and mobile search. Unwired Planet is headquartered in Reno, Nevada.
References in this release to Unwired Planet may be to Unwired Planet,
Inc. or its subsidiaries.
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20150602006807r1&sid=ntxv4&distro=nx&lang=en)
View source version on businesswire.com: http://www.businesswire.com/news/home/20150602006807/en/
Copyright Business Wire 2015