TOKYO, Japan, August 10, 2016 ― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced that it has resolved at the Meeting of Board of Directors held on August 10, 2016, partial revisions to its June 28, 2016 press release entitled "Notice Regarding Issuance of Stock Acquisition Rights as Stock Options"
1. Reason of the revisions
Having reexamined some of the terms and conditions of the stock acquisition rights by taking various factors into account, Renesas has come to conclude that it would be best to change the exercise period of stock acquisition rights as follows.
2. Outline of the revisions
The revisions are underlined.
[Original statement]
1. Regarding "First Series of FY2016 Stock Acquisition Rights of Renesas Electronics Corporation"
(11) Other conditions for the exercise of stock acquisition rights
1. In principle, the Participants may exercise said stock acquisition rights from the date after a year from the day following the date said stock acquisition rights were granted. However, if the Participants loses his/her position as member of the board or Senior Vice President, due to, for example, the expiration of his/her period of employment or appointment, said stock options may be exercised until 60 days have passed since the day following the date of loss of said position.
[Revised statement]
1. In principle, the Participants may exercise said stock acquisition rights from the date after a year from the day following the date said stock acquisition rights were granted. However, if the Participants loses his/her position as member of the board or Senior Vice President, due to, for example, the expiration of his/her period of employment or appointment, said stock options may be exercised until 13 months have passed since the day following the date of loss of said position.
[Original statement]
2. Regarding "Second Series of FY2016 Stock Acquisition Rights of Renesas Electronics Corporation"
(11) Other conditions for the exercise of stock acquisition rights
1. In principle, the Participants may exercise said stock acquisition rights from the date after a year from the day following the date said stock acquisition rights were granted. However, if the Participants loses his/her position as member of the board or Senior Vice President, due to, for example, the expiration of his/her period of employment or appointment, said stock options may be exercised until 60 days have passed since the day following the date of loss of said position.
[Revised statement]
1. In principle, the Participants may exercise said stock acquisition rights from the date after a year from the day following the date said stock acquisition rights were granted. However, if the Participants loses his/her position as member of the board or Senior Vice President, due to, for example, the expiration of his/her period of employment or appointment, said stock options may be exercised until 13 months have passed since the day following the date of loss of said position.
[Original statement]
3. Regarding "Third Series of FY2016 Stock Acquisition Rights of Renesas Electronics Corporation"
(11) Other conditions for the exercise of stock acquisition rights
1. In principle, the Participants may exercise said stock acquisition rights from the date after a year from the day following the date said stock acquisition rights were granted. However, if the Participants loses his/her position as member of the board or Senior Vice President, due to, for example, the expiration of his/her period of employment or appointment, said stock options may be exercised until 60 days have passed since the day following the date of loss of said position.
[Revised statement]
1. In principle, the Participants may exercise said stock acquisition rights from the date after a year from the day following the date said stock acquisition rights were granted. However, if the Participants loses his/her position as member of the board or Senior Vice President, due to, for example, the expiration of his/her period of employment or appointment, said stock options may be exercised until 13 months have passed since the day following the date of loss of said position.
(Note) No revision has been made to other contents of the press release.
Forward-Looking Statements
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to several important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Amongst other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets may cause actual results to differ from the projected results forecast.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.