XenoPort, Inc. reported today that an equity award was made to a new
employee subject to the terms and conditions of the XenoPort 2010
Inducement Award Plan. The employee was granted restricted stock units
representing an aggregate of 750 shares of XenoPorts common stock. The
restricted stock units vest in four equal annual installments on
anniversaries of the September 1, 2010 grant date. The equity award was
approved by the independent compensation committee of XenoPorts board
of directors and was granted as an inducement material to the new
employee entering into employment with XenoPort in accordance with
Nasdaq Market Place Rule 5635(c)(4).
About XenoPort
XenoPort, Inc. is a biopharmaceutical company focused on developing a
portfolio of internally discovered product candidates that utilize the
bodys natural nutrient transport mechanisms to improve the therapeutic
benefits of existing drugs. XenoPort is developing its lead product
candidate in collaboration with Astellas Pharma Inc. and
GlaxoSmithKline. XenoPorts product candidates are being studied for the
potential treatment of restless legs syndrome, gastroesophageal reflux
disease, neuropathic pain, spasticity and Parkinsons disease.
To learn more about XenoPort, please visit the Web site at www.XenoPort.com.
XenoPort is a registered trademark of XenoPort, Inc.
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Source: Business Wire