XenoPort Announces New Employment Inducement Awards
XenoPort, Inc. (Nasdaq: XNPT) reported today that equity awards were made to three new employees subject to the terms and conditions of the XenoPort 2010 Inducement Award Plan. The employees were granted stock options to purchase an aggregate of 162,000 shares of XenoPort's common stock and restricted stock units representing an aggregate of 12,500 shares of XenoPort's common stock. The stock options have a per share exercise price of $5.51, the closing trading price of XenoPort's common stock on the Nasdaq Global Select Market on the October 3, 2011 grant date. The stock options have a ten-year term and vest over four years, with 25% cliff vesting on the first anniversary of the employee's date of hire and 1/48th of the options vesting monthly thereafter.
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