CLEARSIGN COMBUSTION CORPORATION (NASDAQ:CLIR) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On June 23, 2017, the Compensation Committee of the Board of
Directors of ClearSign Combustion Corporation (the Company)
granted awards of stock options from the ClearSign Combustion
Corporation 2011 Equity Incentive Plan to the following officers:
| Name and Title |
Shares of Common Stock Subject to the Grant |
| Joseph Colannino, Senior Vice President of Engineering | 15,000 |
| Brian Fike, Interim Chief Financial Officer | 10,000 |
| Donald W. Kendrick, Chief Technology Officer | 25,000 |
| Andrew U. Lee, Senior Vice President of Business Development | 12,000 |
| Roberto Ruiz, Chief Operating Officer | 10,000 |
The options have an exercise price of $3.80 per share, the
closing price of the Companys common stock on the date of grant,
and will expire on April 1, 2027. The awards vest at the rate of
6.25% at the end of each quarter, beginning on June 30, 2017.
About CLEARSIGN COMBUSTION CORPORATION (NASDAQ:CLIR)
ClearSign Combustion Corporation is engaged in designing and developing technologies for managing various performance characteristics of combustion systems, such as emission and operational performance, and energy efficiency. The Company’s Duplex and Electrodynamic Combustion Control (ECC) platform technologies are used to manage the performance of combustion systems in a range of markets, including the refinery, petrochemical, chemical, power and commercial boiler industries. The Duplex burner technology typically consists of a traditional industrial burner and a porous ceramic tile. The ECC technology includes various components, such as a computer, standard software delivering algorithms to a power amplifier (resident outside the combustion chamber) and electrodes inside the combustion chamber. The ECC technology introduces a computer-controlled high voltage electric field into a combustion volume in order to control gas-phase chemical reactions.