Lantronix Inc. a global provider of secure turnkey solutions for the Internet of Things (IoT) and Remote Environment Management (REM) offering Software as a Service (SaaS), connectivity services, engineering services and intelligent hardware, announced that Jacques Issa has joined the Lantronix executive team as vice president of Marketing, effective July 12, 2021.

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“I am excited to bring on board an executive with such an extensive and successful background,” said Paul Pickle, CEO of Lantronix. “Having previously worked with Jacques, I look forward to leveraging his depth of experience as we continue to focus on strategic growth verticals in the next phase of Lantronix’s transformation.”

Jacques most recently served as SVP of Marketing and Strategy at Virtium LLC, a supplier of industrial solid-state drive and memory solutions, and has more than thirty years of marketing and applications experience, including long-tenured management positions at Motorola, Legerity and Zarlink. After Microsemi acquired Zarlink in 2011, Jacques served as vice president and business unit manager, overseeing a unit responsible for $250 million in revenue, until Microsemi was acquired by Microchip in 2018.

In connection with the commencement of his employment, Lantronix has agreed to grant Jacques inducement awards consisting of 50,458 restricted share units (RSUs) and 100,000 stock options. The RSU award is scheduled to vest over four years as follows: 12,614 RSUs are scheduled to vest on June 1, 2022, and the remaining RSUs are scheduled to vest ratably each quarter thereafter over a period of three years. The options are scheduled to vest as follows: 25,000 option on July 12, 2022, 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 is $5.46, which was the closing price of the Company’s common stock on July 12, 2021, the date of grant of such options. The inducement RSUs and options are granted as employment inducement awards in accordance with NASDAQ Listing Rule 5635(c)(4).

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