15 November 2013

POET grants stock options

POET Technologies Inc of Toronto, Canada – which, through subsidiary ODIS Inc of Storrs, CT, USA, has developed the proprietary planar-optoelectronic technology (POET) platform for monolithic fabrication of integrated III-V-based electronic and optical devices on a single semiconductor wafer – has granted additional incentive stock options (under its stock option plan) to certain officers and employees of the company, to purchase up to a total of 1,480,000 common shares (1.12% of the outstanding shares of the company).

Of these options, 42.6% were granted to key employees (technical staff related to the POET effort) and 57.4% to company officers. No options were granted to directors.

The stock options are exercisable at a price of CA$0.44 per share, expiring 14 November 2018. Pursuant to the policies of the TSX Venture Exchange, the exercise price was fixed by the closing market price of 13 November. The options will vest and be exercisable on the basis of 25% on the date of grant and 25% every six months thereafter.

There are currently 23,832,750 options outstanding and 132,676,115 shares outstanding. The options were granted subject to provisions of the company's stock option plan (approved by shareholders on 21 June) and are subject to the TSX Venture Exchange policies and the applicable securities laws.

See related items:

POET endorses Special Strategic Committee’s recommendations for next phase of commercialization

OPEL’s AGM agrees name change to POET Technologies Inc

Tags: POET

Visit: www.poet-technologies.com