Lifecore Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4) [Yahoo! Finance]
Landec Corporation (LNDC)
Last landec corporation earnings: 3/31 04:05 pm
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Source: Yahoo! Finance
development and manufacturing organization, today announced that Lifecore has granted a restricted stock unit (“RSU”) award with respect to 525,000 shares of its common stock and a performance stock unit (“PSU”) award for up to 1,500,000 shares of its common stock to Paul Josephs, Lifecore's newly hired President and Chief Executive Officer. The RSU award and PSU award were granted May 20, 2024 pursuant to the Company's previously-announced offer letter with Mr. Josephs, and as a material inducement to Mr. Josephs joining Lifecore as President and Chief Executive Officer. The RSU award and PSU award were approved by Lifecore's compensation committee and were granted as inducement equity awards in accordance with Nasdaq Listing Rule 5635(c)(4) under Lifecore's Equity Inducement Plan adopted on March 20, 2024 (the “Inducement Plan”). The RSU award will vest and be settled as to 25,000 shares of the RSU on May 20, 2024 and as to 100,000 shares of the RSU on each of the first five ann
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