Rochester, NY 8/20/2009 7:28:08 PM
Ascent Solar Technologies, Inc., ASTIZ - Ascent Solar Inducement Award to CEO
Ascent Solar Technologies, Inc.
Ascent Solar Technologies, Inc., a developer of flexible thin-film solar modules, announced that it has completed a grant of options to purchase 200,000 shares of common stock to the company's President and Chief Executive Officer.
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The company noted the planned grant was previously disclosed in a Form 8-K current report filed July 14. The options have an exercise price of $7.76 per share, and will vest in equal amounts over four years. In the event of a "Change of Control" (as defined in Dr. Moghadam's employment agreement), the stock options will be subject to accelerated vesting. The grant was approved by the Compensation Committee of the Company's Board of Directors.
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