SANTA CLARA, Calif., Feb. 21 /PRNewswire-FirstCall/ -- Integrated Silicon Solution, Inc. today announced that in connection with Scott Howarth commencing employment as the Company's Chief Financial Officer on February 21, 2006, the Compensation Committee of the Company's Board of Directors has made an inducement grant to Mr. Howarth of a non-qualified stock option to purchase 100,000 shares of the Company's common stock. This option is being granted without stockholder approval pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv). The option will have an exercise price equal to the fair market value of the Company's common stock on the grant date of February 21, 2006, a term of 7 years, and will vest as to 12.5% of the shares on the six (6) month anniversary of his employment start date, and as to 1/48th of the total option grant each month thereafter until the option is fully vested.
About the Company
ISSI is a fabless semiconductor company that designs and markets high performance integrated circuits for the following key markets: (i) digital consumer electronics, (ii) networking, (iii) mobile communications and (iv) automotive electronics. The Company's primary products are high speed and low power SRAM and low and medium density DRAM. The Company also designs and markets EEPROM, SmartCards and is developing selected non-memory products focused on its key markets. ISSI is headquartered in Silicon Valley with worldwide offices in China, Europe, Hong Kong, India, Korea and Taiwan. Visit our web site at http://www.issi.com/.
First Call Analyst:
FCMN Contact: gfischer@issi.com
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