Smart Balance Reports Granting of Inducement Awards
PARAMUS, N.J., Oct. 1, 2012 /PRNewswire/ — Smart Balance, Inc. (NasdaqGM: SMBL) reported today that it has granted inducement awards to two new non-executive employees. The awards were made on each of September 24, 2012 and September 27, 2012 under the Smart Balance, Inc. 2012 Inducement Award Plan, which provides for the granting of stock option awards to new employees as an inducement to join the company. The inducement awards consist of a total of 32,500 options for shares of Smart Balance common stock in the aggregate granted to two non-executive employees. The options have a 10-year term and an exercise price equal to the fair market value of Company common stock on the date of grant. The options vest in four equal annual installments beginning on the one-year anniversary of their grant dates.
About Smart Balance, Inc.
Smart Balance, Inc. (NasdaqGM: SMBL) is committed to providing superior tasting, solution-driven products in every category it enters. The company’s health and wellness platform consists of brands that target specific consumer needs: Glutino and Udi’s for gluten-free diets; Earth Balance for plant-based diets; Smart Balance for heart healthier diets; and Bestlife for weight management. For more information about Smart Balance, Inc., please visit www.smartbalance.com.
SOURCE Smart Balance, Inc.