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The Form 8-K filed by the company on 22 October 2009 with the US Securities and Exchange Commission (SEC) stated that on 20 October 2009 the Compensation Committee of the company's board decided that the minimum net income target as per the 2007 Challenge Grants Program were not achievable. Therefore the restricted stock awards were cancelled and returned to the status of authorised, but un-issued, shares available for future issuance under the company's 2005 Incentive Award Plan.
The cancelled restricted stock totalled 395,000 shares of common stock. As a result the three executives each filed a Form 4 with the SEC to record the changes in their beneficial ownership and no Ramtron common stock shares were sold in connection with the recent Form 4 filings.
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The Connors Group, Inc. ("Company") is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The analysts and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company's website, or in its publications, are made as of the date stated and are subject to change without notice.
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