Chembio Diagnostics Reports Inducement Award Under Nasdaq Listing Rule 5635(c)(4)
Chembio Diagnostics, Inc. (CEMI)
Last chembio diagnostics, inc. earnings: 3/12 04:07 pm
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Source: GlobeNewswire
HAUPPAUGE, N.Y., March 20, 2020 (GLOBE NEWSWIRE) -- Chembio Diagnostics, Inc. (Nasdaq: CEMI), a leading point-of-care diagnostic company focused on infectious diseases, today reported that, in accordance with Nasdaq Listing Rule 5635(c)(4), it has granted a restricted stock unit award to Richard L. Eberly, Chembio’s new Chief Executive Officer and President, outside Chembio’s 2019 Omnibus Incentive Plan. The restricted stock unit award was granted upon Mr. Eberly’s joining Chembio on March 16, 2020, in accordance with terms of his employment agreement with Chembio, which was entered into on March 4, 2020 and became effective as of March 16, 2020. Under the award, Mr. Eberly can acquire, upon vesting and without payment of a purchase price, up to 233,589 shares of Chembio common stock. Subject to Mr. Eberly’s continued service with us, the award will vest in three equal installments as of March 16 of each of 2021, 2022 and 2023, except that vesting will accelerate in full upon the
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