PALO
ALTO, Calif., Dec. 15,
2023 /PRNewswire/ -- Broadcom Inc. (NASDAQ: AVGO), a
global technology leader that designs, develops, and supplies
semiconductor and infrastructure software solutions, today
announced that the Compensation Committee of Broadcom's Board of
Directors approved granting on December 15,
2023 restricted stock unit awards covering 4,394,353 shares
of its common stock to 13,831 new employees and performance stock
unit awards covering 91,930 shares of its common stock at target to
25 new employees (of which up to two times the number of target
shares can be earned upon the achievement of specified performance
goals) under Broadcom's 2023 Inducement Plan. Each award was
granted as an inducement material to the employee's commencement of
employment in connection with Broadcom's acquisition of VMware,
Inc. and pursuant to Nasdaq Listing Rule 5635(c)(4).
The restricted stock unit awards will vest over four years, with
either 1/16th of the award vesting quarterly or 1/4th of the award
vesting annually, subject to continued employment with Broadcom
through the vesting dates. The performance stock unit awards
are earned based on Broadcom's total stockholder return relative to
the S&P 500 Index over four annual performance periods, subject
to continued employment with Broadcom through the vesting
dates. Each award is subject to the terms and conditions of
Broadcom's 2023 Inducement Plan and the grant agreements covering
the awards.
About Broadcom
Broadcom Inc. (NASDAQ: AVGO) is a global technology leader that
designs, develops, and supplies a broad range of semiconductor,
enterprise software and security solutions. Broadcom's
category-leading product portfolio serves critical markets
including cloud, data center, networking, broadband, wireless,
storage, industrial, and enterprise software. Our solutions include
service provider and enterprise networking and storage, mobile
device and broadband connectivity, mainframe, cybersecurity, and
private and hybrid cloud infrastructure. Broadcom is a Delaware corporation headquartered in
Palo Alto, CA. For more
information, go to www.broadcom.com.
Contact:
Broadcom Inc.
Ji
Yoo
Investor Relations
650-427-6000
investor.relations@broadcom.com
(AVGO-Q)
View original
content:https://www.prnewswire.com/news-releases/broadcom-announces-inducement-grants-under-nasdaq-listing-rule-5635c4-302017093.html
SOURCE Broadcom Inc.