Cepheid Welcomes Executive Vice President of Global Operations
SUNNYVALE, Calif., May 7, 2013
SUNNYVALE, Calif., May 7, 2013 /PRNewswire/ --Cepheid (NASDAQ: CPHD) today
announced that it has appointed Warren C. Kocmond to the position of Executive
Vice President, Global Operations, effective May 6, 2013.
Mr. Kocmond joins Cepheid from Lam Research Corporation, where he most
recently served as Vice President of Global Operations, responsible for
globally dispersed operations including a multi-billion dollar supply chain.
Prior to Lam Research, Mr. Kocmond was Executive Vice President of Global
Operations and Quality at Verigy, Ltd., now a wholly owned subsidiary of
Advantest Corp. Mr. Kocmond previously held operations and management
positions at Applied Materials and Silicon Graphics, among other companies,
and brings well over two decades of relevant experience to Cepheid.
In connection with his employment, the Compensation Committee of Cepheid's
Board of Directors has granted Mr. Kocmond an option to purchase 75,000 shares
of Cepheid common stock at the closing price of Cepheid common stock on Mr.
Kocmond's employment commencement date and restricted stock units in respect
of 8,333 shares of Cepheid common stock. The option will become exercisable
by Mr. Kocmond over four years, with 25% vesting on the one-year anniversary
of grant and ratably monthly thereafter, so long as Mr. Kocmond continues to
be employed or provide services to Cepheid, and will expire after seven years
from the grant date. The restricted stock units will vest over four years,
with 25% vesting on the one-year anniversary of the grant and as to an
additional 1/16^th of the restricted stock units at the end of each
three-month period thereafter, so long as Mr. Kocmond continues to be employed
or provide services to Cepheid. The option and restricted stock units were
granted as inducement grants pursuant to Section 5635(c)(4) of The NASDAQ
Stock Market Rules.
Based in Sunnyvale, Calif., Cepheid (Nasdaq: CPHD) is a leading molecular
diagnostics company that is dedicated to improving healthcare by developing,
manufacturing, and marketing accurate yet easy to use molecular systems and
tests. By automating highly complex and time-consuming manual procedures, the
company's solutions deliver a better way for institutions of any size to
access the full power of molecular diagnostics. The company's systems enable
rapid, sophisticated genetic testing for organisms and genetic-based diseases
by automating otherwise complex manual laboratory procedures. Through its
strong molecular biology capabilities, the company is focusing on those
applications where accurate, rapid, and actionable test results are needed
most, such as managing infectious diseases and cancer. For more information,
For Media Inquiries: For Investor Inquiries:
Jared Tipton Jacquie Ross
Cepheid Corporate Communications Cepheid Investor Relations
Tel: (408) 400-8377 Tel: (408) 400-8329
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