Parametric Sound Appoints Stephen Thesing Vice President of Marketing and
Business Development
Inducement Grant Under NASDAQ Listing Rule 5635(c)(4)
POWAY, CA, Jun 27, 2012 (MARKETWIRE via COMTEX) -- Parametric Sound Corporation
(PAMT), a leading innovator of directed audio products and solutions, today
announced that it has appointed Stephen Thesing as Vice President, Marketing and
Business Development, bringing with him over 20 years of experience in the
development of global marketing programs and revenue streams for high-growth
technology companies.
"We are at a point where we plan to begin aggressively scaling our business
development relationships and activities," said Kenneth F. Potashner, executive
chairman of Parametric Sound. "Steve will be instrumental to helping us achieve
that growth."
Steve was influential in successfully launching and building several startup
companies in Silicon Valley and San Diego, as well as startup divisions within
larger companies. He was an Internet pioneer with Sun Microsystems (Verisign,
Travelocity), built the OEM ecosystem at Veritas Software (Dell, HP/Compaq), and
the global alliances and sales channels for Troika Networks, acquired by Qlogic.
Most recently, Steve was Vice President of Channels and OEM for Anakam, a San
Diego-based software company that was sold to Equifax in October, 2010. He holds
a degree in Business, MIS & Marketing from California Polytechnic in San Luis
Obispo, California.
In connection with such appointment, Mr. Thesing received an option to purchase
32,000 shares of Parametric common stock at an exercise price of $9.25 per share,
the closing price of Parametric common stock on June 25, 2012, and which is
exercisable for five years from the grant date. The vesting schedule for the
option grant is quarterly over three years commencing on September 30, 2012 with
the option becoming fully vested on June 30, 2015, subject to continued service
and other conditions. This grant is outside Parametric's existing shareholder
approved equity plan and was approved by the Company's independent directors as
an inducement material to Mr. Thesing entering into employment with Parametric in
reliance on NASDAQ Listing Rule 5635(c)(4), which requires this public
announcement.
About Parametric Sound Corporation Parametric Sound Corporation is a pioneering
innovator of directed audio solutions. With a substantial body of intellectual
property, Parametric Sound is the foremost authority in the application of
acoustic technology to beam sound to target a specific listening area without the
ambient noise of traditional speakers. Recent innovations produce a distinctive
3D audio image from just two speakers opening opportunities for 3D sound
solutions for computers and entertainment. For more information, visit
parametricsound.com.
Cautionary note on forward-looking statements
This press release includes forward-looking statements. Except for historical
information contained in this release, statements in this release, including
those by Mr. Potashner, may constitute forward-looking statements regarding our
assumptions, projections, expectations, targets, intentions or beliefs about
future events that are based on management's belief, as well as assumptions made
by, and information currently available to, management. While the Company
believes that its expectations are based upon reasonable assumptions, there can
be no assurances that the Company's goals and strategy will be realized. Numerous
factors, including risks and uncertainties, may affect the Company's actual
results and may cause results to differ materially from those expressed in
forward-looking statements made by or on behalf of the Company. Some of these
factors include the acceptance of new Parametric Sound products and technologies,
the impact of competitive products and pricing, the timely development and
release of products by the Company, general business and economic conditions, and
other factors detailed in the Company's Annual Report on Form 10-K and other
periodic reports filed with the SEC. Except as required by law, Parametric Sound
Corporation specifically disclaims any obligation to update or revise any
forward-looking statement whether as a result of new information, future
developments or otherwise.
MEDIA CONTACTS:
Tracy Neumann
888-HSS-2150 Ext 9
Email Contact
or
INVESTOR RELATIONS CONTACTS:
Dave Mossberg
Three Part Advisors, LLC
817-310-0051 |
