Harvard Bioscience Announces Inducement Grants to Recently Hired Executives
HOLLISTON, Mass., Nov. 18, 2013 (GLOBE NEWSWIRE) -- Harvard Bioscience, Inc.
(Nasdaq:HBIO), a global developer, manufacturer, and marketer of a broad range
of tools to advance life science research, has granted the inducement stock
option grants it was obligated to grant to its recently hired executives as
*Jeffrey A. Duchemin - Chief Executive Officer – 500,000 options
*Robert E. Gagnon - Chief Financial Officer – 150,000 options
*Yong Sun - Vice President Strategic Marketing and Business Development –
*Yoav Sibony - Vice President of Global Sales - 50,000 options
These grants were made on November 18, 2013 as inducement grants material to
the executives entering into employment with Harvard Bioscience, as permitted
under NASDAQ Listing Rule 5635(c)(4), and were approved by the Board of
Directors of Harvard Bioscience prior to the hiring of the executives.
As previously agreed upon between Harvard Bioscience and each executive in
connection with the respective hiring, the options were granted on the
eleventh trading day after the distribution date with respect to Harvard
Bioscience's spin-off of Harvard Apparatus Regenerative Technology, Inc. The
options each have an exerciseprice of $4.31 per share, which is based on the
volume weighted average price of Harvard Bioscience's common stock over the
ten (10) trading day period preceding the date of grant. The options granted
to Mr. Duchemin, our new CEO, fully vest three years from the date of grant,
while the options granted to the other executives each vest in four equal
annual installments over four years after the date of grant.
About Harvard Bioscience
Harvard Bioscience is a global developer, manufacturer, and marketer of a
broad range of specialized products, primarily apparatus and scientific
instruments, used to advance life science research. Our products are sold to
thousands of researchers in over 100 countries primarily through our 850 page
catalog (and various other specialty catalogs), our website, through
distributors, including GE Healthcare, Thermo Fisher Scientific, and VWR, and
via our field sales organization. Harvard Bioscience has sales and
manufacturing operations in the United States, the United Kingdom, Germany,
Sweden, and Spain with additional facilities in France and Canada. For more
information, please visit our website at www.harvardbioscience.com.
The Harvard Bioscience logo is available at
For investor inquiries, please call (508) 893-8066. Press releases may be
found on our web site.
CONTACT: Harvard Bioscience
Jeffrey A. Duchemin
President and Chief Executive Officer
Tel: (508) 893-8999
Dian Griesel Inc.
Dian Griesel Inc.
Susan Forman or Laura Radocaj
Harvard Bioscience, Inc. Logo
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