Aug. 19, 2009 (Business Wire) -- Planar Systems, Inc. (NASDAQ:PLNR), a worldwide leader in specialty display solutions, today reported that it granted an equity award to a new, non-executive employee of the Company. The equity award was comprised of 1,000 shares of restricted stock. The restricted stock will vest over three years (with 33% of the shares vesting on the first anniversary of the date of grant and 8.375% of the shares vesting at the end of each of the eight consecutive quarters thereafter).

The equity award was granted under the Planar Systems, Inc. 2007 New Hire Incentive Plan, which the Company's Board of Directors adopted to facilitate the granting of equity awards as an inducement to new employees to join the Company. In accordance with NASDAQ Marketplace Rule 4350(i)(1)(A)(iv), these awards were made under a stock incentive plan that has not received shareholder approval. NASDAQ rules require a public announcement of equity awards made under this type of plan.

ABOUT PLANAR

Planar Systems, Inc (NASDAQ:PLNR) is a global leader of specialty display technology providing solutions for the world’s most demanding environments. Hospitals, space and military programs, utility and transportation hubs, shopping centers, banks, government agencies, businesses, and home theater enthusiasts all depend on Planar to provide superior performance when image experience is of the highest importance. Founded in 1983, Planar is headquartered in Oregon, USA, with offices, manufacturing partners, and customers worldwide. For more information, visit www.planar.com.