LSI Industries Inc. a leading US based manufacturer of indoor/outdoor lighting and graphics solutions, announced the appointment of Thomas A. Caneris as Senior Vice President –Human Resources and General Counsel, effective August 5, 2019.
Mr. Caneris brings to LSI more than 30 years of experience as a practicing attorney and senior advisor in both public and private company settings. Previously, he served as Senior Vice President and General Counsel for PharMerica Corporation from 2007 through 2019. From 2004 to 2007, Mr. Caneris was employed by Convergys Corporation as a Senior Attorney. Earlier in his career, Mr. Caneris served as Commercial Affairs Counsel for AK Steel Corporation.
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“We are pleased to have Tom join our senior leadership team and look forward to deepening our bench as we position LSI for its next phase of growth,” stated Jim Clark, President and CEO. “As a seasoned general counsel, his experience in corporate governance, regulatory compliance and human resources equip him to become a valued asset to our organization.”
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As an inducement to accept his appointment with LSI, Mr. Caneris was granted an inducement stock option to purchase up to 100,000 shares of LSI common stock. The awards were granted by LSI’s Compensation Committee on June 19, 2019 as an inducement material to Mr. Caneris’ entering into employment with LSI in accordance with NASDAQ Listing Rule 5635(c)(4). The award was approved in connection with the commencement of his employment with the Company on August 5, 2019 and has a ten-year term. The option is exercisable at a price of $4.04 per share (the closing price on August 5, 2019) and will vest only if Mr. Caneris remains an employee of LSI for three years.