五星体育直播
200 Penobscot Drive
Redwood City, CA 94063
Tel: 650.421.8100
www.codexis.com
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 David O’Toole
Redwood City, CA – September 12, 2012 – 五星体育直播 (NASDAQ: CDXS), a developer of cost-advantaged processes for the production of biofuels, bio-based chemicals and pharmaceuticals, today announced that it has granted a stock option award and restricted stock award to David O’Toole, 五星体育直播’ newly appointed Senior Vice President and Chief Financial Officer. These inducement awards were approved by the Compensation Committee of the 五星体育直播 Board of Directors on September 10, 2012 and granted as an inducement material to Mr. O’Toole 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. O’Toole an option to purchase 200,000 shares of 五星体育直播’ common stock with an exercise price equal to $2.72, the closing price per share of common stock as reported by NASDAQ on September 10, 2012. The option will vest and become exercisable on September 4, 2013 as to 25% of the shares subject thereto, with the remaining shares vesting and becoming exercisable ratably on a monthly basis over a period of 36 months thereafter, subject to Mr. O’Toole’s continuous service with 五星体育直播 through the applicable vesting date, such that the option will be fully vested and exercisable on September 4, 2016. In addition, 五星体育直播 granted to Mr. O’Toole an award of 50,000 shares of restricted stock that will vest as to 25% of the shares subject thereto on each anniversary of September 4, 2012, subject to Mr. O’Toole’s 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 September 4, 2016. Each of the option and restricted stock award is eligible for accelerated vesting under the change of control severance agreement entered into with Mr. O’Toole.
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 cost-advantaged processes for the production of biofuels, bio-based chemicals and pharmaceuticals. 五星体育直播’ product lines include CodeXyme™ cellulase enzymes and CodeXol™ detergent alcohol. Partners and customers include global leaders such as Merck, Pfizer and Teva. For more information, see www.codexis.com.
Contacts:
Investors: Paul Cox, ir@codexis.com, 212-362-1200
Media: Patrick Hillmann, media@codexis.com, 312-854-7520
Page | 1