Last checked at 21 Mar 2013 07:00
Press Announcement | ||
FOR IMMEDIATE RELEASE | ||
21 March 2013 | ||
Somero Enterprises, Inc ® (the "Company") | ||
DIRECTOR SHAREHOLDING | ||
On 13 March 2013, the Board of the Company approved awards to the following executive directors under the terms of Somero's 2010 Equity Incentive Plan ("Equity Incentive Plan") at a price of 50 pence per restricted stock unit (RSU) being the closing price on 13 March 2013.
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Name | Number of outstanding shares currently held | Number of RSU awarded |
Thomas M. Anderson | None | 4,391 shares |
John T. Cooney | 4,191,502 shares | 149,046 shares |
Lawrence L. Horsch | 128,000 shares | 6,149 shares |
Ronald Maskalunas | None | 4,391 shares |
Michael F. Niemela | 108,166 shares | 76,477 shares |
The number of RSU awarded was a total grant of 240,454 units. The number of shares referred to is the maximum available under the grant. The awarded shares will vest on the third anniversary of the grant and require continued employment for the period. The participating directors will, following the end of the vesting period, be notified as to the extent to which this condition has been met and their awards have vested. | ||
Should an award vest then each restricted stock unit will be satisfied by the issue to the employee of one ordinary share in the Company. | ||
The Company's total issued share capital is 56,425,598 ordinary shares. | ||
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