APOGEE : Enterprises Reports Grant of Inducement Award
08/22/2011| 06:40pm US/Eastern
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Apogee Enterprises, Inc. (Nasdaq:APOG) announced that as an inducement
for Joseph F. Puishys, who joined the company today as chief executive
officer and president, to enter into employment with the company, the
compensation committee of the Board of Directors approved equity grants
to Puishys effective today. The equity grants are: (i) 155,875 shares of
time-based restricted common stock of the company, which will vest in
equal annual increments over a five-year period, in accordance with the
terms of a restricted stock agreement entered into today; (ii) options
to purchase 450,512 shares of the company's common stock, which will
vest in equal annual increments over a three-year period, in accordance
with the terms of a stock option agreement entered into today; and (iii)
59,952 shares of the company's common stock that immediately vested.
Apogee Enterprises, Inc., headquartered in Minneapolis, is a leader in
technologies involving the design and development of value-added glass
products and services. The company is organized in two segments:
-
Architectural products and services companies design, engineer,
fabricate, install, maintain and renovate the walls of glass and
windows comprising the outside skin of commercial and institutional
buildings.
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Large-scale optical segment consists of a value-added glass and
acrylic manufacturer for the custom framing market.
Apogee Enterprises, Inc.
Mary Ann Jackson, 952-487-7538
Investor
Relations
mjackson@apog.com
© Business Wire 2011
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