Airgain Reports Granting of Inducement Awards Under Nasdaq Listing Rule 5635(c)(4)

Airgain, Inc. (NASDAQ: AIRG), a leading provider of wireless connectivity solutions that creates and delivers embedded components, external antennas, and integrated systems across the globe, today announced that it has granted inducement awards to 1 new executive employee who recently joined the Company.

The awards were made on November 15, 2023 under Airgain’s 2021 Employment Inducement Incentive Award Plan, which provides for the granting of equity awards to new employees of Airgain as an inducement to join the company. The inducement awards to the new employee consist of an aggregate of 59,480 restricted stock units (“RSUs”), 18,783 performance-restricted stock units (PSUs) and 98,958 non-qualified options. The RSUs shall vest over four years in equal annual installments according to the Company’s RSU vesting schedule, subject to the employees’ continued services with the Company. The PSUs will vest and be released based on specified performance and service criteria that includes share price appreciation, achievement of certain financial thresholds related to revenue, and defined service and vesting requirements. The Stock Options shall vest 25% of the original number of shares subject to the Stock Option on the first anniversary of the Effective Date and 1/48th of the original number of shares subject to the Stock Option following each one-month period thereafter.

The awards were approved by the Compensation Committee of Airgain’s Board of Directors, as required by Nasdaq Rule 5635(c)(4), and were granted as an inducement material to the new employees entering into employment with Airgain in accordance with Nasdaq Rule 5635(c)(4).

About Airgain, Inc.

Airgain simplifies wireless connectivity across a diverse set of devices and markets, from solving complex connectivity issues to speeding time to market to enhancing wireless signals. Our products are offered in three distinct sub-brands: Airgain Embedded, Airgain Integrated and Airgain Antenna+. Our mission is to connect the world by making wireless simple. Airgain's expertise in custom cellular and antenna system design pairs with our focus on high-growth technologies and our dedication to simplify the growing complexity of wireless. With a broad portfolio of products across the value chain, from embedded components to fully integrated products, we are equipped to solve critical connectivity needs in both the design process and the operating environment across the enterprise, automotive, and consumer markets. Airgain is headquartered in San Diego, California. For more information, visit airgain.com, or follow Airgain on LinkedIn and Twitter.