Icagen, Inc. (FRA:ICFN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item5.02.
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 15, 2017, the Board of Directors (the Board) of Icagen,
Inc. (the Company) granted under the Companys 2015 Stock
Incentive Plan (the Plan) the following: (i) options to purchase
10,000 shares of common stock, par value $0.001 per share of the
Company (the Common Stock) to each of the Companys five
non-employee members of the Board (which equals options to
purchase an aggregate of 50,000 shares of Common Stock); and (ii)
options to purchase 20,000 shares of Common Stock to Richie
Cunningham, the Companys Chief Executive Officer. All of the
stock options granted have an exercise price of $3.50 per share,
vest monthly on a pro rata basis over a three year period and
expire ten years after the date of grant. In addition, the Board
approved a bonus to Mr. Cunningham of 70% of his base pay
together with the options mentioned above and a merit increase in
his base salary of 2.5%.
Icagen, Inc. (FRA:ICFN) Recent Trading Information
Icagen, Inc. (FRA:ICFN) closed its last trading session at 4.20 with shares trading hands.
