GERMANTOWN, Md., Sept. 26, 2016 /PRNewswire/ -- Intrexon Corporation (NYSE: XON), a leader in synthetic biology, today announced that pursuant to New York Stock Exchange Rule 303A.08 it granted Geno J. Germano an employment inducement award in connection with Mr. Germano's appointment as President.
As Intrexon previously disclosed in a Current Report on Form 8-K filed on May 17, 2016, the Intrexon Compensation Committee approved the award to Mr. Germano of options to purchase an aggregate of 2,000,000 shares of the Company's common stock at an exercise price of $29.94, the closing price per share of the Company's common stock on June 1, 2016, Mr. Germano's first day of employment with Intrexon. A grant for 1,000,000 of these shares was previously issued pursuant to Intrexon's 2013 Omnibus Incentive Plan. The inducement award, a stock option award of 1,000,000 shares at an exercise price of $29.94, fulfills the balance of the company's commitment to Mr. Germano and was a material inducement for Mr. Germano to join Intrexon. The award vests in four equal annual installments beginning on June 1, 2017. The award is subject to accelerated vesting in certain situations and expires on May 31, 2026. The award will generally be subject to the same terms and conditions as apply to awards granted under the 2013 Omnibus Incentive Plan.
About Intrexon Corporation
Intrexon Corporation (NYSE:XON) is Powering the Bioindustrial Revolution with Better DNA™ to create biologically-based products that improve the quality of life and the health of the planet. The Company's integrated technology suite provides its partners across diverse markets with industrial-scale design and development of complex biological systems delivering unprecedented control, quality, function, and performance of living cells. We call our synthetic biology approach Better DNA®, and we invite you to discover more at www.dna.com or follow us on Twitter at @Intrexon.
Intrexon, Powering the Bioindustrial Revolution with Better DNA, and Better DNA are trademarks of Intrexon and/or its affiliates.
For more information regarding Intrexon Corporation, contact:
Vice President, Investor Relations
Tel: +1 (561) 410-7052
Marie Rossi, Ph.D.
Senior Manager, Technical Communications
Tel: +1 (301) 556-9850
SOURCE Intrexon Corporation