Business Services Industry
Accelrys, Inc. Reports Grant of Inducement Award to New Chief Executive Officer and President
Business Wire, June 19, 2009
SAN DIEGO -- Accelrys, Inc. (NASDAQ: ACCL) announced today that, in accordance with NASDAQ Marketplace Rule 5635(c)(4) and as previously disclosed in its current report on Form 8-K dated June 15, 2009, it has granted an inducement award to Scipio “Max” Carnecchia, its new Chief Executive Officer and President.
Pursuant to the terms of the inducement award, which was evidenced by a stand-alone stock option agreement with a ten-year term, Mr. Carnecchia will be entitled to purchase up to 800,000 shares of the Company’s common stock at an exercise price per share equal to $5.38. Subject to certain acceleration provisions in the event of a change of control or Mr. Carnecchia’s death or disability, the right to purchase such shares of common stock will vest over four years, with 200,000 shares vesting on June 15, 2010 and the remaining 600,000 shares vesting in equal monthly installments over the three-year period thereafter.
About Accelrys:
Headquartered in San Diego, California, Accelrys develops scientific business intelligence software and solutions for the life sciences, energy, chemicals, aerospace, and consumer products industries. Our customers include many Fortune 500 companies and other commercial entities, as well as academic and government entities. We have a vast portfolio of computer-aided design modeling and simulation offerings which assist our customers in conducting scientific experiments ‘in silico’ in order to reduce the duration and cost of discovering and developing new drugs and materials. Our scientific business intelligence platform underlies most of our computer-aided design modeling and simulation offerings. Our platform can be used with our products, our competitors’ products and our customers’ proprietary predictive science products. Its flexibility, ease-of-use and advanced chemical, text and image analysis and reporting capabilities enable our customers to mine, aggregate, analyze and report scientific data from disparate sources, thereby better utilizing scientific data within their organizations. For more information about Accelrys, visit its website at http://accelrys.com/.
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