Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
(e) On November 12, 2012, the Compensation Committee of the Board of Directors
of Ubiquiti Networks, Inc. (the "Company") granted Jessica Zhou, Vice President
of Legal Affairs and General Counsel, an option to purchase 100,000 shares of
the Company's common stock at an exercise price of $10.77 per share, which is
the closing price of the Company's common stock on November 12, 2012, pursuant
to the Company's Amended and Restated 2010 Equity Incentive Plan. Twenty-five
percent of the shares subject to the option shall vest on the first anniversary
of October 25, 2012 (the "Vesting Commencement Date") and 1/48th of the total
shares subject to the grant shall vest each month thereafter, so that 100% of
the shares shall be vested on the fourth anniversary of the Vesting Commencement
Date.
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