In addition to his new role, Mr. Tirva will receive a combination of option grants and cash payments equivalent to the compensation of other members of the Board who hold no Committee chair positions. Specifically, a grant of 18,823 options to purchase common shares of the Corporation will be made to Bob Tirva, which will vest quarterly in arrears over 7 months. The options are exercisable for 10 years at a price of CAD$7.19.
Key takeaways:
- POET Technologies Inc. has expanded its Board of Directors to six members with the appointment of Bob Tirva as director and member of the Audit Committee.
- Bob Tirva brings over 30 years of executive experience in the technology industry and has held various management positions at IBM, Broadcom Corporation, Dropbox and Intermedia Cloud Communications Inc.
- For his services as a member of the Board, Bob Tirva will receive a grant of 18,823 options to purchase common shares of the Corporation and a cash payment of US$17,500 in two quarterly payments.
- POET Technologies Inc. is a design and development company offering high-speed optical modules, optical engines and light source products to the artificial intelligence systems market and to hyperscale data centers.