LOS ALTOS, CALIFORNIA, UNITED STATES – 01/04/2007 – Rambus Inc. (NASDAQ:RMBS), one of the world’s premier technology licensing companies specializing in high-speed memory architectures, today announced that 2,736,800 stock options, which had previously been issued to former CEO Geoff Tate, were terminated in 2006. Mr. Tate served as CEO of Rambus from 1990 to 2005 and held the position of Chairman of the Board from 2005 to May 2006.
Mr. Tate resigned from the Board of Directors on August 13, 2006, and thus his options would have expired by their terms on November 13, 2006. Prior to the expiration of the options, Mr. Tate and Rambus entered into an agreement to conditionally extend the exercise period of the options, subject to fulfillment by Mr. Tate of certain obligations. The obligations set forth in the conditional extension were not met by Mr. Tate, and thus the extension expired on December 1, 2006, and the options were thus terminated.
About Rambus Inc.
Rambus is one of the world’s premier technology licensing companies specializing in the invention and design of high-speed chip interfaces. Additional information is available at www.rambus.com.
