ADTRAN Holdings, Inc. announced on October 24, 2024, that its stockholders approved the 2024 Employee Stock Incentive Plan and the 2024 Directors Stock Plan at the Annual Meeting held on May 8, 2024. These plans became effective upon stockholder approval.
The 2024 Employee Plan authorizes the issuance of up to 3,970,058 shares of common stock, aiming to offer employees and key service providers a proprietary interest in the company. This initiative is intended to provide an added incentive for continued service, promote growth, and attract outstanding individuals.
The 2024 Directors Plan authorizes up to 655,000 shares for non-employee directors, encouraging them to obtain a proprietary interest in the company. Both plans are designed to stimulate efforts in promoting the company's growth, efficiency, and profitability, and to attract high-quality individuals to the Board of Directors.
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