IRVINE, Calif., Jan. 22, 2020 — Lantronix, Inc. (NASDAQ: LTRX), a global provider of secure data access and management solutions for the industrial Internet of Things (IoT), today announced that Roger Holliday has joined Lantronix as vice president of Worldwide Sales.
“Lantronix is pleased to announce that Roger has joined the Lantronix team,” said Paul Pickle, CEO of Lantronix. “Roger had an extensive track record at Microsemi, which included leading successful sales teams, running strategic marketing initiatives and finally managing the Global Communications Products Group. I am confident that Roger will deliver major contributions to Lantronix as we execute our mission of growth.”
“I am excited to join the Lantronix team and lead the company’s continued growth through strong customer engagement, product and business development strategies,” said Holliday. “With its installed base of millions of connected devices worldwide, Lantronix has a long-established reputation as an innovator in delivering compelling connectivity solutions.”
Holliday is the most recent in Lantronix’s impressive list of executive new hires announced over the past year. Lantronix continues to attract top-tier technology industry talent whose experience and leadership complement Lantronix’s strong commitment to growth and innovation.
Prior to joining Lantronix, Holliday was executive vice president at Microsemi Corporation, where he was part of the management team that grew the company to $2 billion in revenue. He held a variety of sales and marketing positions before being promoted to General Manager of the company’s Communication Products Group, which accounted for a significant portion of Microsemi’s revenue. He joined Microsemi when the company acquired Linfinity Microelectronics in 1999. At Linfinity, he held various roles in product management, applications and sales management.
Holliday will replace Kevin Yoder, who is retiring from the company.
In connection with the commencement of his employment, Lantronix will grant Holliday inducement awards consisting of 50,000 restricted share units (RSUs) and 100,000 stock options. The RSU award is scheduled to vest over four years as follows: 12,500 RSUs are scheduled to vest on March 1, 2021, and the remaining RSUs are scheduled to vest ratably each quarter thereafter over a period of three years. The options are scheduled to be awarded on Feb. 3, 2020 and will vest as follows: 25,000 options will vest on Feb. 1, 2021, and the remaining options are scheduled to vest ratably each month thereafter over a period of three years. The per share exercise price of the options will be the closing price of the Company’s common stock on Jan. 31, 2020. The inducement RSUs and options were granted as employment inducement awards 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) assets. Our mission is to be the leading supplier of IoT solutions 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 industrial, medical, security, transportation, retail, financial, environmental, and government.
Lantronix is headquartered in Irvine, Calif. For more information, visit www.lantronix.com.
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