SCOTTSDALE, Ariz.--(BUSINESS WIRE)--June 11, 2007--Mobility
Electronics, Inc. (NASDAQ:MOBE), a leading provider of innovative
portable power and computing solutions, today announced that Larry M.
Carr was re-elected to the Company's board of directors at the Annual
Meeting of Stockholders held today. Mr. Carr was elected to a
three-year term on the board of directors. In other business conducted
by the Company, Michael D. Heil assumed the duties of President, Chief
Executive Officer and member of the board of directors of Mobility
Electronics. In addition, as previously announced, Robert W. Shaner
was appointed chairman of the board of directors effective June 8,
2007.
Pursuant to Mr. Heil's employment agreement, Mobility awarded him
a total of 1,000,000 restricted stock units, (each an "RSU") as an
inducement award without stockholder approval pursuant to Nasdaq
Marketplace Rule 4350(i)(1)(A)(iv), with 500,000 RSUs vesting 25% per
year over four years, or earlier, in full, upon a change in control of
Mobility or, on a pro rata basis, upon Mr. Heil's death, disability or
termination without cause, and 500,000 RSUs vesting upon the
achievement of certain performance objectives.
About Mobility Electronics, Inc.
Mobility Electronics, Inc., based in Scottsdale, Arizona, is a
developer of universal power adapters for portable computers and
mobile electronic devices (e.g., mobile phones, PDAs, digital cameras,
etc.) and creator of the patented iGo(R) intelligent tip technology.
Mobility Electronics' iGo brand offers a full line of AC, DC and
combination AC/DC power adapters for portable computers and low-power
mobile electronic devices. All of these adapters leverage the
Company's iGo intelligent tip technology, which enables one power
adapter to power/charge hundreds of brands and thousands of models of
mobile electronic devices through the use of interchangeable tips.
The Company also offers other accessories for the mobile
electronic device market, such as foldable keyboards.
Mobility Electronics' products are available at www.iGo.com as
well as through leading resellers, retailers and OEM partners. For
additional information call 480-596-0061, or visit
www.mobilityelectronics.com.
Mobility Electronics, iGo and ...improving your mobile experience
are registered trademarks of Mobility Electronics, Inc. All other
trademarks or registered trademarks are the property of their
respective owners.
CONTACT: Financial Relations Board
Tony Rossi, 310-854-8317
trossi@financialrelationsboard.com
SOURCE: Mobility Electronics, Inc.
