SECAUCUS, N.J., Sept. 07, 2016 (GLOBE NEWSWIRE) -- Freshpet, Inc. (“Freshpet” or the “Company”) (NASDAQ:FRPT) today announced that on September 6, 2016, the Compensation Committee of its Board of Directors (the “Board”) approved an equity award as an inducement material to William Cyr's acceptance of employment with the Company in accordance with NASDAQ Listing Rule 5635(c)(4).
In connection with his appointment to Chief Executive Officer, as previously announced on July 27, 2016, Mr. Cyr was granted options to purchase 1,000,000 shares of the Company's common stock, with an exercise price of $10.23 per share, which is equal to the closing price of the Company's common stock on September 2, 2016. Fifty percent of the options will vest in four equal annual installments beginning September 6, 2017, subject to Mr. Cyr’s continued employment through each vesting date. The remaining fifty percent of the options will vest on December 31, 2020, subject to the satisfaction of certain performance goals and Mr. Cyr’s continued employment through the vesting date.
Freshpet has a single-minded mission – to improve the lives of dogs and cats everywhere through the power of fresh, natural food. Packed with vitamins and proteins, Freshpet foods offer fresh meats, poultry, and vegetables farmed locally. At our Freshpet Kitchens, we thoughtfully prepare these natural ingredients and everyday essentials, cooking them in small batches at lower temperatures to preserve key nutrients. That way, your pet gets the best. Freshpet refrigerated foods and treats are kept cool from the moment they are made until they arrive at Freshpet Fridges in your local market.
Freshpet foods are available in select mass, grocery, natural food, club, and pet specialty retailers across the United States, Canada and are currently testing in the United Kingdom. From the care Freshpet takes to source their ingredients and make their food, to the moment it reaches your home, Freshpet’s integrity, transparency and social responsibility are the way they like to run their business. To learn more, visit www.freshpet.com.
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