SAN JOSE, Calif., Nov. 2 /PRNewswire-FirstCall/ -- DSP Group, Inc.
(Nasdaq: DSPG), a worldwide leader in developing and providing chip-set
solutions for residential wireless connectivity, announces that on October
31, 2007, it granted stock options to purchase an aggregate of 185,000
shares of DSP Group common stock to seven employees of NXP B.V. and its
affiliates who became non-executive officer employees of DSP Group
following the acquisition of the Cordless and VoIP Terminals business of
NXP by DSP Group. Furthermore, a stock option to purchase 50,000 shares of
DSP Group common stock was granted to Brian Robertson, General Manager of
the Cordless and VoIP Terminals business of NXP who became the President of
DSP Group, on the same date. The stock options are an inducement for, and
granted in connection with the commencement of, their employment with DSP
Group. All option grants, including the grant to Mr. Robertson, have an
exercise price of $15.79 per share, the fair market value of DSP Group's
common stock at the close of the trading day on the grant date, and will
vest over a period of four years as follows: 25% of the shares subject to
each option will vest on the one year anniversary of the grant date; and
the remaining 75% of the shares subject to each option will vest in 36
equal monthly increments during each of the second, third and fourth years
thereafter. The stock options are granted without stockholder approval but
the grants meet the provisions of NASDAQ's listing standards regarding
stockholder approval of equity-based incentive awards granted to newly
hired employees.
About DSP Group
DSP Group, Inc. is a fabless semiconductor company, offering advanced
chip-set solutions for a variety of applications. DSP Group is a worldwide
leader in the short-range wireless communication market, enabling home
networking convergence for voice, video and data. By combining its in-house
technologies of Digital Signal Processors (DSPs), portfolio of wireless
communication protocols, including DECT, Bluetooth and Wi-Fi, most advanced
Radio Frequency CMOS and SiGe, as well as VoIP ICs, DSP Group is a
worldwide leader and a one-stop-shop for a wide range of applications.
These applications include ISM band digital 900MHz, 2.4GHz and 5.8GHz
telephony, European DECT (1.9GHz) telephony, Bluetooth systems for voice,
video and data communication and deployment in residential, SOHO, SME,
enterprise and automotive applications. DSP Group's ICs provide solutions
for MP3 players, VoIP Phones, Gateways, and Integrated Access Devices and
are widely used in Digital Voice Recorders. More information about DSP
Group is available at http://www.dspg.com.
For more information, please contact Ofer Elyakim, Vice President of
Business Development, DSP Group, Inc. at (408) 240-6839; or e-mail:
ofere@dsp.co.il.
SOURCE DSP Group, Inc.
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Related links:
http://www.dspg.com
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CONTACT:
Ofer Elyakim, Vice President of Business
Development of DSP Group, Inc., +1-408-240-6839, ofere@dsp.co.il
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