Ciena grants 1.7 million shares to new employees

April 03, 2010

Network specialist Ciena Corp., based in Linthicum, has granted 1.7 million shares to 195 new employees. The workers were employed in connection with Ciena's acquisition of the optical networking and carrier ethernet assets of Nortel's Metro Ethernet Networks business. The awards include 100,000 to Philippe Morin, Ciena's new senior vice president of the global products group. The awards are effective April 1. One-fourth of the grant amount will vest on June 20, 2011, and in equal one-twelfth amounts each calendar quarter thereafter over the following three years, provided that the employee continues employment with Ciena.

- Andrea K. Walker

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