News Article
POET Technologies grants stock options
Of these options, 42.6 percent were granted to technical staff related to the POET effort and 57.4 percent to the company’s officers not including directors
POET Technologies Inc., has announced the grant of additional incentive stock options under its stock option plan, to certain officers and employees of the company, to purchase up to an aggregate of 1,480,000 common shares, representing 1.12 percent of the outstanding shares of the company.
POET Technologies is the developer of the proprietary planar-optoelectronic technology (POET) platform for monolithic fabrication of integrated electronic and optical devices on a single semiconductor wafer.
Of these options, 42.6 percent were granted to key employees which are the technical staff related to the POET effort and 57.4 percent to the company’s officers. No options were granted to the Directors of the company.
The stock options are exercisable at a price of CA$0.44 per share expiring November 14th, 2018. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed by the closing market price of November 13th, 2013. The options will vest and be exercisable on the basis of 25 percent on the date of grant and 25 percent every six months thereafter.
There are currently 23,832,750 options outstanding and 132,676,115 shares outstanding. The options were granted subject to provisions of the company’s stock option plan which was approved by shareholders on June 21st, 2013, and are subject to the TSX Venture Exchange policies and the applicable securities laws.
POET Technologies is the developer of the proprietary planar-optoelectronic technology (POET) platform for monolithic fabrication of integrated electronic and optical devices on a single semiconductor wafer.
Of these options, 42.6 percent were granted to key employees which are the technical staff related to the POET effort and 57.4 percent to the company’s officers. No options were granted to the Directors of the company.
The stock options are exercisable at a price of CA$0.44 per share expiring November 14th, 2018. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed by the closing market price of November 13th, 2013. The options will vest and be exercisable on the basis of 25 percent on the date of grant and 25 percent every six months thereafter.
There are currently 23,832,750 options outstanding and 132,676,115 shares outstanding. The options were granted subject to provisions of the company’s stock option plan which was approved by shareholders on June 21st, 2013, and are subject to the TSX Venture Exchange policies and the applicable securities laws.
