SANTA CLARA, Calif.--(BUSINESS WIRE)--Affymetrix (NASDAQ:AFFX) today announced that equity awards were made to 5 new non-executive officer employees as inducement to join Affymetrix. The equity awards were granted pursuant to NASDAQ Marketplace Rule 5635(c)(4) under the Affymetrix, Inc. 2012 Inducement Plan, which the Board of Directors of Affymetrix adopted for the granting of inducement equity awards to new employees.
5 employees were granted a combination of Restricted Stock Units (RSUs) and Stock Options to purchase an aggregate of 11,734 shares of the Company's common stock; 6,353 of the shares granted were Stock Options and 5,381 of the shares granted were RSUs. Both the RSUs and Stock Options vest in equal annual installments over four years. The Stock Options have a maximum term of 7 years.
The exercise price for the Stock Options granted is $9.13, which was the closing price of Affymetrix common stock on the NASDAQ Global Market as such price was reported by NASDAQ on the grant date, November 19, 2015.
Affymetrix technologies enable multiplex and simultaneous analysis of biological systems at the cell, protein, and gene level, facilitating the rapid translation of bench-top research into clinical and routine use for human health and wellness. The Company provides leadership and support, partnering with customers in pharmaceutical, diagnostic, and biotechnology companies, as well as leading academic, government, and non-profit research institutes in their quest to use biology for a better world. More than 2,300 microarray systems have been shipped around the world and more than 94,000 peer-reviewed papers have been published citing Affymetrix technologies. Affymetrix is headquartered in Santa Clara, California, and has manufacturing facilities in Cleveland, Ohio, San Diego, Vienna, and Singapore. The Company has about 1,100 employees worldwide and maintains sales and distribution operations across Europe, Asia, and Latin America. For more information about Affymetrix, please visit www.affymetrix.com.