Kopin Grants Restricted Stock to Dashen Fan
Jan 08, 2013 (Close-Up Media via COMTEX) --
Kopin Corp. announced, as required by NASDAQ Listing Rule 5635(c)(4), that it has granted restricted stock to Dashen Fan, a new employee, as a material inducement for Fan to enter into employment with Kopin.
In a release dated Jan. 2, the Company said Fan is not related to John Fan, Kopin's President and Chief Executive Officer.
Kopin's Board of Directors, including all of its independent directors, has agreed to award Fan up to 400,000 shares of restricted common stock as an inducement grant outside of Kopin's 2010 Equity Incentive Plan. A total of 100,000 shares vest upfront and the remaining 300,000 shares vest based on the achievement of certain performance milestones. In the event that Fan is terminated or no longer an employee of Kopin, he is ineligible to continue to vest under this restricted stock award.
Kopin Corp. is developing Golden-i, a proprietary voice-activated, cloud computing, wireless, hands-free technology with microdisplay capabilities for use in headset computers.
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