Synaptics Incorporated announced on February 14, 2025, that it would grant restricted stock unit (RSU) awards to new employees who joined Synaptics in connection with the previously announced asset purchase transaction with Broadcom Inc. The transaction officially closed on January 30, 2025.
A total of 1,006,506 RSUs will be awarded to 104 newly hired non-executive employees as a substitution for Broadcom equity awards, serving as a material inducement for their employment with Synaptics. These RSUs will vest 50% on the first anniversary of the grant date, with the remaining 50% vesting quarterly thereafter until fully vested on the second anniversary.
The Broadcom agreement included a licensing arrangement for Wi-Fi® 8, ultra-wideband, Wi-Fi 7, advanced Bluetooth®, and next-generation GPS/GNSS products and technology for the IoT and Android™ ecosystem. This integration of new talent and technology further accelerates Synaptics’ Edge AI strategy.
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