Codexis announces new employment incentive grants

REDWOOD CITY, Calif., Sept. 6, 2024 (GLOBE NEWSWIRE) — Codexis, Inc. (NASDAQ: CDXS), a leading enzyme engineering company, today announced the approval of equity awards to three new employees, as approved by the Compensation Committee of Codexis’ Board of Directors. The new hires received equity awards consisting of a total 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 Incentive Plan.

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