Kopin Corp of Taunton, MA, USA, a supplier of III-V semiconductor products and microdisplays for mobile applications (including smartphones, tablet PCs, military thermal weapons sights and wearable computers), says that, as required by NASDAQ Listing Rule 5635(c)(4), it has granted restricted stock to new employee Dashen Fan as a material inducement to enter into employment with Kopin. Fan is not related to president & CEO Dr John C.C. Fan.
Kopin’s board of directors, including all of its independent directors, has agreed to award Dashen 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.
