POET grants options to recently appointed executive and new hires

POET Technologies Inc of Toronto, Canada and San Jose, CA, USA — a designer and manufacturer of optoelectronic devices, including light sources, passive waveguides and photonic integrated circuits (PIC) for the sensing and datacom markets — has announced option grants to Rich Zoccolillo (who was appointed earlier in September as senior VP of marketing & product management) and other key new hires. The firm continues to strengthen and add to its Singapore-based subsidiary DenseLight Semiconductors (which produces lasers for optical sensing applications), including both technical and manufacturing expertise, as it prepares for product qualifications and a manufacturing ramp of datacom products.

At a meeting of the board of directors, as part of the incentive stock option grant program, options were granted to Zoccolillo to purchase up to an aggregate of 1,750,000 common shares. In addition, a total of 890,000 options were granted to the new employees hired over the past few months.

The options are exercisable for 10 years at a price of CAD$0.385 (US$0.29), being the closing price of the firm’s shares on 21 September. The options vest over a period of four years (commencing on the first anniversary of the grant) and the balance vests quarterly over a further three-year period thereafter.

The options were granted subject to provisions of the firm’s stock option plan and are subject to the TSX Venture Exchange policies and applicable securities laws.

See related items:

POET appoints senior VP of strategic marketing & product management

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Visit: www.poet-technologies.com