Published on September 3, 2010 at 9:23 AM
XenoPort, Inc. 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 was granted restricted stock units representing an aggregate of 750 shares of XenoPort's common stock. The restricted stock units vest in four equal annual installments on anniversaries of the September 1, 2010 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).
Source XenoPort, Inc.