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New Kopin Employee Secures 400k Shares Of Restricted Stock

The firm's board has agreed to award Dashen Fan up to 400,000 shares of restricted common stock
Kopin Corporation, as required by NASDAQ Listing Rule 5635(c)(4), has granted restricted stock to Dashen Fan, a new employee, as a material inducement for Kopin to employ him.


The company stresses that Dashen Fan is not related to John C.C. Fan, Kopin’s President and Chief Executive Officer.


Kopin’s Board of Directors, including all of its independent directors, has agreed to award Dashen Fan up to 400,000 shares of restricted common stock as an inducement grant outside of Kopin’s 2010 Equity Incentive Plan.


A total of 100,000 shares vest upfront and the remaining 300,000 shares vest based on the achievement of certain performance milestones. In the event that Fan is terminated or no longer an employee of Kopin, he is ineligible to continue to vest under this restricted stock award.


 




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