Codexis Announces New Employment Inducement Grants
Rhea-AI Summary
Codexis (NASDAQ: CDXS), a leading enzyme engineering company, has announced the approval of equity grants for three new employees. These grants, approved by the Compensation Committee of Codexis' Board of Directors, include:
1. Options to purchase 4,950 shares of Codexis common stock
2. 8,125 restricted stock units (RSUs)
The stock options have an exercise price equal to the closing price of Codexis' common stock on the grant date. They vest over four years, with 25% vesting on the first anniversary and the remainder vesting monthly thereafter. The RSUs will vest in equal annual installments over three years. Both are subject to continued employment. This announcement is in compliance with Nasdaq Listing Rule 5635(c)4.
Positive
- Codexis is attracting new talent with competitive equity compensation packages
- The company is transparent about its employee compensation practices, complying with Nasdaq listing rules
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, CDXS declined 4.38%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
REDWOOD CITY, Calif., Sept. 06, 2024 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the approval of equity grants to three new employees as approved by the Compensation Committee of Codexis’ Board of Directors. The newly hired employees received equity awards consisting of an aggregate of (i) options to purchase 4,950 shares of Codexis common stock and (ii) 8,125 restricted stock units (RSUs) as inducement awards under the company’s 2024 Inducement Plan.
The stock options have an exercise price equal to the closing price per share of Codexis’ common stock as reported by Nasdaq on the grant date, and vest over four years, with 25 percent of the shares vesting on the first anniversary of the vesting commencement date, and the remainder vesting ratably at the end of each subsequent month thereafter, subject to each employee’s continued service with Codexis through the applicable vesting dates. The RSUs will vest in equal annual installments on each anniversary of the grant date, until the third anniversary of such date, subject to each employee’s continued service with Codexis through the applicable vesting dates.
Codexis is providing this information in accordance with Nasdaq Listing Rule 5635(c)4.
About Codexis
Codexis is a leading enzyme engineering company leveraging its proprietary CodeEvolver® technology platform to discover, develop and enhance novel, high-performance enzymes and other classes of proteins. Codexis enzymes solve for real-world challenges associated with small molecule pharmaceuticals manufacturing and nucleic acid synthesis. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit www.codexis.com.
For More Information
Investor Contact
Carrie McKim
(336) 608-9706
ir@codexis.com
Media Contact
Lauren Musto
(650) 421-8205
media@codexis.com
FAQ
What type of equity grants did Codexis (CDXS) announce for new employees?
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