IRVINE, Calif., Jan. 26, 2023 (GLOBE NEWSWIRE) -- Lantronix Inc. (NASDAQ: LTRX), a global provider of secure turnkey solutions for the Industrial Internet of Things (IoT) and the Intelligent IT market, today announced it has appointed Eric Bass as its vice president of Engineering, effective Jan. 30, 2023.
Eric comes to Lantronix from CEVA, where he held the position of director of strategic programs since 2019. Previously, Eric served multiple roles at Microsemi Corporation from 2001 to 2018, culminating with his role as vice president of Research & Development from 2013 to 2018 where he led the company’s technology and product roadmaps for the voice circuit and power-over-ethernet product lines. His prior experience includes engineering roles at Clearcube Technologies and Schlumberger. Eric holds a Ph.D. in Electrical Engineering from Pennsylvania State University.
In connection with the commencement of his employment, Lantronix has agreed to issue Eric inducement awards consisting of 59,267 restricted share units (RSUs) and 100,000 stock options. The RSU award is scheduled to vest over four years as follows: Twenty-five percent (25%), or 14,817, of the foregoing RSUs are scheduled to vest on March 1, 2024, and the remaining RSUs are scheduled to vest ratably each quarter thereafter over a period of three years. The options are scheduled to vest as follows: 25,000 options are scheduled to vest on Feb. 1, 2024, and the remaining options are scheduled to vest ratably each month thereafter over a period of three years. The per-share exercise price of the options will be the closing price of the Company’s common stock on Feb. 1, 2023, the date of grant of the options. The inducement RSUs and options are granted as employment inducement awards in accordance with NASDAQ Listing Rule 5635(c)(4).
About Lantronix
Lantronix Inc. is a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM), offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware.
Lantronix enables its customers to accelerate time to market and increase operational up-time and efficiency by providing reliable, secure and connected Intelligent Edge IoT and Remote Management Gateway solutions.
Lantronix’s products and services dramatically simplify the creation, development, deployment and management of IoT and IT projects across Robotics, Automotive, Wearables, Video Conferencing, Industrial, Medical, Logistics, Smart Cities, Security, Retail, Branch Office, Server Room, and Datacenter applications. For more information, visit the Lantronix website.
Learn more at the Lantronix blog, which features industry discussion and updates. Follow Lantronix on Twitter, view our YouTube video library or connect with us on LinkedIn.
©2023 Lantronix, Inc. All rights reserved. Lantronix is a registered trademark. Other trademarks and trade names are those of their respective owners.
Lantronix Media Contact:
Gail Kathryn Miller
Corporate Marketing &
Communications Manager
media@lantronix.com
949-453-7158
Lantronix Analyst and Investor Contact:
Jeremy Whitaker
Chief Financial Officer
investors@lantronix.com
949-450-7241
Lantronix Sales:
sales@lantronix.com
Americas +1 (800) 422-7055 (US and Canada) or +1 949-453-3990
Europe, Middle East and Africa +31 (0)76 52 36 744
Asia Pacific + 852 3428-2338
China + 86 21-6237-8868
Japan +81 (0) 50-1354-6201
India +91 994-551-2488
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3815b30b-72e3-4e4e-b44f-8b003ecb5976
