Codexis announces new subsidies for employment stimulation

REDWOOD CITY, Calif., Sept. 6, 2024 (GLOBE NEWSWIRE) — Codexis, Inc. (NASDAQ: CDXS), a leading enzyme technology company, today announced the approval of stock awards to three new employees, as approved by the Compensation Committee of the Codexis Board of Directors. The new hires received stock awards consisting of an aggregate of (i) options to purchase 4,950 shares of Codexis common stock and (ii) 8,125 restricted stock units (RSUs) as incentive awards under the Company’s 2024 Inducement Plan.

The stock options have an exercise price equal to the closing price per share of Codexis common stock as reported by Nasdaq on the date of grant, and vest over four years, with 25 percent of the shares vesting on the first anniversary of the grant commencement date and the remainder vesting pro rata at the end of each subsequent month thereafter, subject to each employee’s continued employment with Codexis through the applicable grant dates. The RSUs vest in equal annual installments on each anniversary of the grant date, until the third anniversary of such date, subject to each employee’s continued employment with Codexis through the applicable grant dates.