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Kopin Corporation Announces Restricted Stock Award
TAUNTON, Mass. --(Business Wire)--
Kopin Corporation (NASDAQ: KOPN) today announced, as required by NASDAQ
Listing Rule 5635(c)(4), that it has granted restricted stock to Mr.
Dashen Fan ("Mr. Fan"), a new employee, as a material inducement for Mr.
Fan to enter into employment with Kopin. Mr. Fan is not related to Dr.
John C.C. Fan, Kopin's President and Chief Executive Officer.
Kopin's Board of Directors, including all of its independent directors,
has agreed to award Mr. Fan up to 400,000 shares of restricted common
stock as an inducement grant outside of Kopin's 2010 Equity Incentive
Plan. A total of 100,000 shares vest upfront and the remaining 300,000
shares vest based on the achievement of certain performance milestones.
In the event that Mr. Fan is terminated or no longer an employee of
Kopin, he is ineligible to continue to vest under this restricted stock
award.
About Kopin Corporation
Kopin Corporation is developing Golden-i®, a proprietary
voice-activated, cloud computing, wireless, hands-free technology with
microdisplay capabilities for use in headset computers. Kopin's unique
HBTs (heterojunction bipolar transistors), which help to enhance battery
life, talk time and signal clarity, have been integrated into illions
of wireless handsets as well as into WiFi (News - Alert), VoIP and high-speed Internet
data transmission systems. Kopin's proprietary technologies are
protected by more than 200 global patents and patents pending. For more
information, please visit Kopin's website at www.kopin.com
and www.mygoldeni.com.
Kopin, CyberDisplay, Golden-i and The NanoSemiconductor Company are
trademarks of Kopin Corporation.
Kopin - The NanoSemiconductor Company™
Forward-looking Statements
Statements in this news release may be considered "forward-looking"
statements under the "Safe Harbor" provisions of the Private Securities
Litigation Reform Act of 1995. These include statements relating
to the Company's belief that Mr. Fan will achieve certain milestones and
earn 300,000 shares of Kopin Corporation's common stock; and other
statements that may project or imply future results, events, performance
or achievements. These statements involve a number of risks and
uncertainties that could cause actual results to differ materially from
those expressed in the forward-looking statements. These risks and
uncertainties include, but are not limited to, the potential that Mr.
Fan will not achieve the milestones and even if such milestones are
achieved they may not provide Kopin Corporation with the expected
benefits; and other risk factors and cautionary statements listed in the
Company's periodic reports and registration statements filed with the
Securities and Exchange Commission, including the Annual Report on Form
10-K for the 12 months ended December 31, 2011, and the Company's
subsequent filings with the Securities and Exchange Commission. You
should not place undue reliance on any forward-looking statements, which
speak only as of the date on which they are made. The Company undertakes
no responsibility to update any of these forward-looking statements to
reflect events or circumstances occurring after the date of this report.
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