Ascent Solar Makes Inducement Award to CEO
August 03 2009 - 5:13PM
Business Wire
Ascent Solar Technologies, Inc. (NASDAQ:ASTI), a developer of
state-of-the-art flexible thin-film solar modules, announced today
that it has completed a grant of options to purchase 200,000 shares
of common stock to Farhad Moghadam, Ph.D., the company's President
and Chief Executive Officer. The grant was made on August 3, 2009,
Dr. Moghadam's start date, as an inducement award pursuant to
Nasdaq Rule 5635(c)(4). The planned grant was previously disclosed
in a Form 8-K current report filed July 14, 2009. 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.
About Ascent Solar Technologies:
Ascent Solar Technologies, Inc. is a developer of thin-film
photovoltaic modules with substrate materials that can be more
flexible and affordable than most traditional solar panels. Ascent
Solar modules can be directly integrated into standard building
materials, space applications, consumer electronics for portable
power or configured as stand alone modules for large scale
terrestrial deployment. Ascent Solar is headquartered in Thornton,
Colo. Additional information can be found at
www.ascentsolar.com.
Forward Looking Statements
Statements in this press release that are not statements of
historical or current fact constitute "forward-looking statements."
Such forward-looking statements involve known and unknown risks,
uncertainties and other unknown factors that could cause the
Company's actual operating results to be materially different from
any historical results or from any future results expressed or
implied by such forward-looking statements. In addition to
statements that explicitly describe these risks and uncertainties,
readers are urged to consider statements that contain terms such as
"believes," "belief," "expects," "expect," "intends," "intend,"
"anticipate," "anticipates," "plans," "plan," to be uncertain and
forward-looking. The forward-looking statements contained herein
are also subject generally to other risks and uncertainties that
are described from time to time in the Company's filings with the
Securities and Exchange Commission.
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