Irvine, Calif.—February 21, 2017– Lantronix, Inc. (NASDAQ: LTRX), a global provider of secure data access and management solutions for Internet of Things (IoT) and information technology (IT) assets, announced today that Shahram Mehraban has been appointed as vice president of marketing, effective February 27, 2017.
“We believe that Shahram’s more than 20 years of global marketing experience in the networking and communications industry will make him a key contributor in expanding our marketing efforts, especially as we pursue our goal of moving up the IoT value chain,” said Jeffrey Benck, Lantronix president and CEO. “We are excited and pleased to have someone with Shahram’s experience, skills, and industry relationships joining the Lantronix team.”
“Lantronix has a solid reputation for delivering market leading solutions that address IoT connectivity, security, and manageability issues.” said Mehraban. “I am extremely excited to have the opportunity to work with Jeff and the rest of the Lantronix team to help them deliver more comprehensive IoT solutions and take our position in the market place to the next level.”
Most recently, Mehraban served as marketing director and chief of staff of the industrial and energy solutions division of Intel’s IoT Group, where he played a key role in expanding the company’s industry visibility in key IoT verticals, and served as part of the IoT executive team that delivered innovative end to end solutions for the Industrial IoT market. During his 17 year tenure at Intel, Mehraban served in various business development, product and strategic marketing, and general management roles. Prior to joining Intel, he served in various marketing leadership roles at Trillium Digital Systems (acquired by Intel), Nokia, Glenayre Technologies, and Motorola. Mehraban earned a Bachelor of Science degree from the University of British Columbia and an MBA from Gustavson School of Business at University of Victoria.
On March 1, 2017, the company will grant Mr. Mehraban an inducement award of 120,000 nonqualified stock options (NQSO) in connection with the commencement of his employment. The shares subject to the inducement award will vest according to the following schedule: one-fourth of the shares shall vest on the first anniversary of the grant date and the remaining options shall vest ratably each month thereafter for a period of 36 months. The grant of the NQSO was approved by the compensation committee of the company’s board of directors, which committee is comprised solely of independent directors, as an inducement material to Mr. Mehraban entering into employment with the company in accordance with Nasdaq Listing Rule 5635(c)(4).
Lantronix, Inc. is a global provider of secure data access and management solutions for Internet of Things (IoT) and information technology (IT) assets. Our mission is to be the leading supplier of IoT gateways that enable companies to dramatically simplify the creation, deployment, and management of IoT projects while providing secure access to data for applications and people.
With more than two decades of experience in creating robust machine to machine (M2M) technologies, Lantronix is an innovator in enabling our customers to build new business models and realize the possibilities of the Internet of Things. Our connectivity solutions are deployed inside millions of machines serving a wide range of industries, including data center, medical, security, industrial, transportation, retail, financial, environmental and government.
For more information, visit www.lantronix.com.
This news release contains forward-looking statements, including statements concerning our sales expansion efforts and our product development efforts. These forward-looking statements are intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. We have based our forward-looking statements on our current expectations and projections about trends affecting our business and industry and other future events. Although we do not make forward-looking statements unless we believe we have a reasonable basis for doing so, we cannot guarantee their accuracy. Forward-looking statements are subject to substantial risks and uncertainties that could cause our results or experiences, or future business, financial condition, results of operations or performance, to differ materially from our historical results or those expressed or implied in any forward-looking statement contained in this news release. Some of the risks and uncertainties that may cause actual results to differ from those expressed or implied in the forward-looking statements are described in “Risk Factors” in our Annual Report on Form 10-K filed with the Securities and Exchange Commission, or SEC, as well as in our other filings with the SEC. In addition, actual results may differ as a result of additional risks and uncertainties of which we are currently unaware or which we do not currently view as material to our business. For these reasons, investors are cautioned not to place undue reliance on any forward-looking statements. The forward-looking statements we make speak only as of the date on which they are made. We expressly disclaim any intent or obligation to update any forward-looking statements after the date hereof to conform such statements to actual results or to changes in our opinions or expectations, except as required by applicable law or the rules of the NASDAQ Stock Market, LLC. If we do update or correct any forward-looking statements, investors should not conclude that we will make additional updates or corrections.
Media and Investor Relations:
Director, Corporate Marketing and Investor Relations
# # #