Mindspeed(R) Reports Inducement Equity Grant Under NASDAQ Marketplace Rule 4350

NEWPORT BEACH, CA, July 25 / MARKET WIRE/ -- Mindspeed Technologies, Inc. (NASDAQ: MSPD), a leading supplier of semiconductor solutions for network infrastructure applications, today announced that on July 24, 2008, the Compensation and Management Development Committee of its Board of Directors granted Bret Johnsen, Mindspeed's new senior vice president, chief financial officer and treasurer, an award of stock options for 200,000 shares of Mindspeed common stock. The stock options will vest 1/4 on the first anniversary of the grant date and 1/48 each month thereafter over the remaining three-year period and have an exercise price of $3.87, which was the closing price of Mindspeed's common stock on the date of grant. The option grant has an expiration date of July 24, 2016. The anticipated grant of stock options, which was a... [read full story]