ARC Group Worldwide Provides Management Equity Grant [Professional Services Close - Up]
(Professional Services Close - Up Via Acquire Media NewsEdge) ARC Group Worldwide, Inc. announced an equity grant of 145,456 shares of the Company's Common Stock to Jason Young, made by the Board on August 19, in connection with his reappointment as Chief Executive Officer (the "Stock Grant").
According to a release, Jason Young, who previously served as CEO and resigned on August 16, 2011, was reappointed as CEO on August 7. The Stock Grant was made to Young following his period of non- employment as part of his inducement to re-enter into employment with the Company. The Stock Grant was unanimously approved by the Company's compensation committee on August 19. The Company's compensation committee consists of all of the Company's Independent Directors. The shares of Common Stock issued pursuant to the Stock Grant are not subject to vesting or any conditions of forfeiture, and are restricted only to the extent applicable under the Securities Act of 1933, as amended, and the Rules and Regulations promulgated thereunder.
The Company, through its operating subsidiaries, is a global diversified manufacturer and materials technology company, active in metal injection molding, flanges, specialty hermetic seals, and wireless equipment.
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