Parametric Sound Appoints Bob Kulakowski Vice President of Engineering
Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)
SAN DIEGO, CA, Aug 08, 2012 (MARKETWIRE via COMTEX) -- Parametric Sound
Corporation (PAMT), a leading innovator of directed audio products and solutions,
today announced that it has appointed Bob Kulakowski as Vice President,
Engineering. Kulakowski brings 32 years of experience in TV broadcast
engineering, security, networking, computer design and technology management. Mr.
Kulakowski will be responsible for managing engineering, product development and
technology transfer to licensees.
"Bob brings a multitude of talents and past experience to Parametric," said
Kenneth F. Potashner, executive chairman of Parametric Sound. "We have a strong
and talented team of engineers and scientists focused on our patented, directed
audio technology and we are excited to welcome Bob to our team."
Mr. Kulakowski had served as chief technology officer of Channel Islands and was
co-founder and chief technology officer of Verimatrix. During his time at
Verimatrix the company grew to over 300 satellite, cable, and IPTV operator
customers that serviced over 15 million subscribers using the Verimatrix system.
Products developed by Bob or under his direction have been sold or licensed to
Intel, IBM, AT&T, NCR, Western Digital, TDK, Silicon Systems, Yamaha, and others.
In connection with such appointment, Mr. Kulakowski received an option to
purchase 64,000 shares of Parametric common stock at an exercise price of $10.55
per share, the closing price of Parametric common stock on August 2, 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. Kulakowski 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 the pioneering
innovator of directed audio solutions. With a substantial body of intellectual
property, the Company 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. The Company's HSS-3000 product models target
digital signage, kiosk and related applications. 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. |
