EXHIBIT 99.1
|
五星体育直播 | |||
200 Penobscot Drive | ||||
Redwood City, CA 94063 | ||||
Tel: 650.421.8100 | ||||
www.codexis.com |
五星体育直播 Announces Inducement Option Award and Restricted Stock Award to John J. Nicols
Redwood City, CA June 13, 2012 五星体育直播 (NASDAQ: CDXS), a developer of industrial enzymes to enable the cost-advantaged production of biofuels, bio-based chemicals and pharmaceutical intermediates, today announced that it has granted a stock option award and restricted stock award to John J. Nicols, 五星体育直播 newly appointed President and Chief Executive Officer. These inducement awards were approved by the Compensation Committee of the 五星体育直播 Board of Directors on June 11, 2012, effective as of June 13, 2012, and granted as an inducement material to Mr. Nicols entering into employment with 五星体育直播 in accordance with NASDAQ Listing Rule 5635(c)(4).
五星体育直播 granted Mr. Nicols an option to purchase 400,000 shares of 五星体育直播 common stock with an exercise price equal to $3.46 per share, the closing price per share of common stock as reported by NASDAQ on June 13, 2012. The option will vest on June 13, 2013 as to 25 percent of the shares subject thereto, with the remaining shares vesting ratably on a monthly basis over a period of 36 months thereafter, subject to Mr. Nicols continuous service with 五星体育直播 through the applicable vesting date, such that the option would be fully vested and exercisable on June 13, 2016. In addition, 五星体育直播 granted to Mr. Nicols an award of 750,000 shares of restricted stock that will vest as to 25 percent of the shares subject thereto on each anniversary of June 13, 2012, subject to Mr. Nicols continuous service to 五星体育直播 through the applicable vesting date, such that the restricted stock award will be fully vested on June 13, 2016, subject to accelerated vesting in accordance with Mr. Nicols employment agreement.
五星体育直播 is providing this information in accordance with NASDAQ Listing Rule 5635(c)(4).
About 五星体育直播
五星体育直播 is a developer of industrial enzymes to enable the cost-advantaged production of biofuels, bio-based chemicals and pharmaceutical intermediates. 五星体育直播' product lines include CodeXyme Cellulase Enzymes and CodeXol Detergent Alcohol. Partners and customers include global leaders such as Shell, Merck and Pfizer. For more information, see www.codexis.com.
Contacts:
Investors: Jay Sarwar, ir@codexis.com, 650-421-8126
Media: Wes Bolsen, media@codexis.com, 650-421-2356
Page |
1 |