Avocent Stockholders Approve Stock Option Plan and Stock Purchase Plan; No Effect on Compensation Expense.Business Editors HUNTSVILLE, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--Dec. 7, 2000 Avocent Corporation (Nasdaq/NM:AVCT AVCT Advanced Vehicles Concept Team ) today announced that stockholders approved the 2000 Stock Option Plan and Employee Stock Purchase Plan at a special meeting held on December 6, 2000. The Company also announced that it will not incur any compensation expense related to the adoption of the plans. Avocent previously reported that it could incur up to $17 million in a non-cash compensation expense based on the closing price of the Company's stock. Avocent's closing stock price on December 6, 2000 was below the range at which it would have been required to record any compensation expense. The 2000 Stock Option Plan reserves 6,000,000 shares of common stock for issuance under the plan. The 2000 Employee Stock Purchase Plan reserves 1,500,000 shares of common stock for issuance under the plan. About Avocent Corporation Avocent Corporation is the leading supplier of connectivity solutions for enterprise data centers, service providers and financial institutions worldwide. Branded products include switching, extension, remote access and video display solutions. Additional information is available at: www.avocent.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These include statements regarding expense recognition, amortization of intangible assets Intangible Asset An asset that is not physical in nature. Notes: Examples are things like copyrights, patents, intellectual property, and goodwill. These are the opposite of tangible assets. , and Avocent's stock price. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with changes in accounting rules and changes in tax rates or the number of shares outstanding. Other factors that could cause operating and financial results to differ are described in Avocent's Form S-4 filed with the Securities and Exchange Commission on March 31, 2000 (under Avocent's former name, Aegean Sea Aegean Sea, Gr. Aigaion Pelagos, Turkish Ege Denizi, arm of the Mediterranean Sea, c.400 mi (640 km) long and 200 mi (320 km) wide, off SE Europe between Greece and Turkey; Crete and Rhodes mark its southern limit. Inc.), and Apex's and Cybex's Securities and Exchange Commission filings, including Apex's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. filed on March 30, 2000 (as amended on May 25, 2000), and Cybex's annual report on Form 10-K filed on June 22, 2000. Other risks may be detailed from time to time in reports to be filed with the SEC. Avocent does not undertake any obligation to publicly release the result of any revisions to forward-looking statements that may be made to reflect events or circumstances after the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" or to reflect the occurrence of unanticipated events. |
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