XenoPort Announces New Employment Inducement Award
XenoPort, Inc. (Nasdaq: XNPT) reported today that an equity award was made to a new employee subject to the terms and conditions of the XenoPort 2010 Inducement Award Plan. The employee, Ken Chong, was granted restricted stock units representing an aggregate of 1,000 shares of XenoPort's common stock. The restricted stock units vest in four equal annual installments on anniversaries of the December 1, 2011 grant date. The equity award was approved by the independent compensation committee of XenoPort's board of directors and was granted as an inducement material to the new employee entering into employment with XenoPort in accordance with Nasdaq Market Place Rule 5635(c)(4).
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.