The shares were withheld by the Issuer in satisfaction of the withholding taxes incurred in connection with the vesting of restricted stock units previously awarded to the Reporting Person. The withholding of the shares is an exempt disposition pursuant to Rule 16b-3(e) of the Securities Exchange Act of 1934, as amended.
Each restricted stock unit represents a contingent right to receive one share of ISSI common stock.
25% of the total number of RSUs vest annually over 4 years from the date of grant.
The above information was disclosed in a filing to the SEC. To see this filing in its entirety, click here.
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