Mt. Olive, NJ, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Vislink Technologies, Inc. (“Vislink” or the “Company”) (Nasdaq: VISL) announced today that effective August 29, 2024, Joseph Lipowski was granted a time-based and performance-based award of 10,000 restricted stock units (“RSUs”) of the Company, outside of the Company’s existing equity compensation plans, in connection with Mr. Lipowski becoming employed as of that date as Chief Technology Officer of the Company. These RSUs were granted as an inducement grant material to Mr. Lipowski becoming an employee of Vislink in accordance with Nasdaq Listing Rule 5635(c)(4).

For Mr. Lipowski, 50% of the inducement RSUs are time-based and will vest as to one-third of such time-based RSUs on each anniversary date over a period of three years. The balance of the inducement RSUs is performance-based. The performance-based RSUs will vest in three equal tranches of shares upon the Company’s attainment of specified performance metrics to be set by the Board of the Directors of the Company or Compensation Committee thereof by November 7, 2024, subject in each case to Mr. Lipowski’s continued employment with the Company on the applicable vesting date. Upon vesting, the RSUs shall be settled in shares of the Company’s common stock.

Note on Forward-looking Statements

Certain statements in this press release are forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements that involve substantial risks and uncertainties for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact included in this press release, including those regarding the Company’s strategy, future operations, future revenues, growth, profitability results, and financial position, risks of supply chain constraints and inflationary pressures, projected expenses, prospects, plans including footprint and technology asset consolidations, objectives of management, new capabilities, product and solutions launches including AI-assisted and 5G streaming technologies, expected contract values, projected pipeline sales opportunities and transactions in our sales pipeline, the sufficiency of the Company’s capital resources to fund the Company’s operations and any statements regarding future results are forward-looking statements. Vislink may not actually achieve the plans, carry out the intentions, or meet the expectations or projections disclosed in any forward-looking statements such as the foregoing, and you should not place undue reliance on such forward-looking statements. Such statements are based on management’s current expectations and involve risks and uncertainties, including those discussed in Vislink’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023, filed with the Securities and Exchange Commission (“SEC”) on April 3, 2024, and in subsequent filings with, or submissions to, the SEC from time to time.