Los Altos, California, United States - January 04, 2007 -- Rambus Inc. (NASDAQ:RMBS) 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. Since its founding in 1990, the Company's patented innovations, breakthrough technologies and renowned integration expertise have helped industry-leading chip and system companies bring superior products to market. Rambus' technology and products solve customers' most complex chip and system-level interface challenges enabling unprecedented performance in computing, communications and consumer electronics applications. Rambus licenses both its world-class patent portfolio as well as its family of leadership and industry-standard interface products. Headquartered in Los Altos, California, Rambus has regional offices in North Carolina, India, Germany, Japan, Korea and Taiwan. Additional information is available at www.rambus.com.