Contact Information: Investor Contact: Michael Magaro Investor Relations (925) 290-4321 Trade Press Contact: David Viera Corporate Communications (925) 290-4681
FormFactor, Inc. Withdraws Special Meeting Proposal
| Source: FormFactor
LIVERMORE, CA--(Marketwire - October 8, 2008) - FormFactor, Inc. (NASDAQ : FORM ) today
announced it has withdrawn its stock option exchange proposal that was
scheduled to be considered at a special meeting of stockholders on
Wednesday, October 8, 2008. The proposal asked stockholders to approve an
opportunity for employees to exchange underwater options for a smaller
number of new equity awards. FormFactor said that although based on
preliminary indications the vote would have been very close, the lack of
support from some institutional stockholders has caused it to reconsider
the terms and timing of the proposal. FormFactor continues to consider the
creation of meaningful equity incentives for employees to be important to
the company's success.
About FormFactor:
Founded in 1993, FormFactor, Inc. (NASDAQ : FORM ) is the leader in advanced
wafer probe cards, which are used by semiconductor manufacturers to
electrically test integrated circuits, or ICs. The company's wafer sort,
burn-in and device performance testing products move IC testing upstream
from post-packaging to the wafer level, enabling semiconductor
manufacturers to lower their overall production costs, improve yields, and
bring next-generation devices to market. FormFactor is headquartered in
Livermore, California with operations in Europe, Asia and North America.
For more information, visit the company's website at www.formfactor.com.
FormFactor and the FormFactor logo are registered trademarks of FormFactor,
Inc.
Forward-Looking Statements. Statements in this press release that are not
strictly historical in nature are forward-looking statements within the
meaning of the federal securities laws, including statements regarding
business momentum, demand for our products and future growth. These
forward-looking statements are based on current information and
expectations that are inherently subject to change and involve a number of
risks and uncertainties. Actual events or results might differ materially
from those in any forward-looking statement due to various factors,
including, but not limited to: the relative importance and necessity of
meaningful equity incentives to the company's success. Additional
information concerning factors that could cause actual events or results to
differ materially from those in any forward-looking statement is contained
in the company's Form 10-K for the fiscal year ended December 29, 2007,
filed with the Securities and Exchange Commission ("SEC"), and subsequent
SEC filings. Copies of the company's SEC filings are available at
http://investors.formfactor.com/edgar.cfm. The company assumes no
obligation to update the information in this press release, to revise any
forward-looking statements or to update the reasons actual results could
differ materially from those anticipated in forward-looking statements.