MOUNTAIN VIEW, Calif., April 28 /PRNewswire-FirstCall/ -- Ditech Communications Corporation granted stock options to purchase an aggregate of 49,500 shares of its common stock to nine people who were recently hired by Ditech. The stock options have a term of ten years, will vest over four years, have an exercise price per share equal to the closing sales price of the common stock on the date of grant, and were granted as a material inducement for these people to join Ditech Communications. The stock options were granted pursuant to a plan established by Ditech Communications without stockholder approval in reliance upon the "material inducement" exception to the stockholder approval requirements of the rules of the Nasdaq Stock Market. None of the stock option recipients is an executive officer of Ditech Communications.
About Ditech Communications
Ditech Communications Corporation is a global telecommunications equipment supplier for communications networks. Ditech Communications' voice processing products serve the needs of mobile and wire-line operators for circuit and packet based networks. Ditech products include high-capacity voice enhancement and echo canceller solutions that utilize advanced software and digital signal processor (DSP) technology. This combination of software and hardware allows Ditech Communications to deliver Voice Quality Assurance(TM) (VQA(TM)), a robust and cost-effective solution for voice enhancement that includes both noise reduction and echo cancellation to provide improved sound quality on calls made over wireless networks. Ditech Communications' VoIP products combine VQA technology with packet voice processing and security capabilities to enable carriers to deploy end-to-end VoIP services across network security boundaries without requiring network re-architecting. Ditech Communications (DITC) is listed on the Nasdaq National Market and is headquartered in Mountain View, California (web site: http://www.ditechcom.com/).
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