Sounds like the natives are getting restless too. Good.
ALBANY, Ore., June 15 /PRNewswire/ -- Synthetech, Inc. (Nasdaq: NZYM)
today announced commencement of a voluntary stock option exchange program for holders of outstanding stock options under its option plans.
Under the program, Synthetech stock option holders will be given the opportunity, if they so choose, to cancel outstanding stock options previously granted to them in exchange for an equal number of new options to be granted
at a future date. The exercise price of these new options will be equal to the fair market value of the Company's common stock to be granted on or after the date six months and one day after the date the exchanged options are cancelled.
"We continue to believe in Synthetech's opportunities for growth and employee retention and motivation is a cornerstone to building a sustaining corporation and long-term shareholder value," said M. "Sreeni" Sreenivasan,
President and CEO, "I believe that this program is an important indication of our commitment to Synthetech's success."
The exchange program has been organized to comply with FASB Interpretation No. 44 "Accounting for Certain Transactions Involving Stock Compensation" and accordingly, the Company believes that there will be no variable compensation charges as a result of this stock option exchange program. Members of the Company's Board of Directors, and the Company's officers and senior executives, will be eligible to participate in this program.
Wilder |
