THORNTON, CO, Sept. 27, 2022 (GLOBE NEWSWIRE) — through NewMediaWire – Ascent Solar Technologies, Inc. (“Ascent Solar”, “Ascent” or the “Company”) (NASDAQ: ASTI), a developer and producer of state-of-the-art, light-weight, versatile thin-film photovoltaic (PV) options, introduced at the moment that the compensation committee of Ascent’s board of administrators have granted Mr. Jeffrey Max, the Company’s newly appointed Chief Executive Officer, an inducement grant of restricted inventory items (“RSUs”) for an mixture of three,534,591 shares of Ascent Solar’s frequent inventory, on September 21, 2022.
This RSUs grant was agreed to as an inducement, materials to Mr. Max getting into into an employment settlement with Ascent. The RSUs grant was agreed to and granted in accordance with Nasdaq Listing Rule 5635(c)(4). Twenty p.c (20%) of the RSUs are absolutely vested upon grant. The remaining eighty p.c (80%) of the RSUs shall vest in equal month-to-month increments over the subsequent thirty-six (36) months. Any excellent and unvested RSUs will speed up and absolutely vest upon the sooner of (i) a change of management and (ii) the termination of Mr. Max’s employment for any motive apart from (x) by the Company for trigger or (y) by Mr. Max with out good motive.
The RSUs shall be settled in eight (8) equal increments on the final business day of every calendar quarter starting with the preliminary settlement date of September 30, 2024. Notwithstanding the foregoing, any RSUs which can be then excellent and vested will speed up and be settled upon the sooner of (i) a change of management and (ii) the termination of Mr. Max’s employment for any motive apart from (x) by the Company for trigger or (y) by Mr. Max with out good motive. At the election of the Company or Mr. Max prior to every settlement date, the RSUs shall be “net settled” and the Company shall retain such variety of shares on the market on behalf of Mr. Max at a value equal to the honest market worth of the shares on the settlement date as might be enough for the cost of withholding tax legal responsibility to fulfill the duty of Mr. Max upon settlement of any RSUs.
For extra info, please go to www.AscentSolar.com.
ABOUT ASCENT SOLAR TECHNOLOGIES, INC
Ascent Solar Technologies, Inc., is a developer of thin-film photovoltaic modules utilizing versatile substrate supplies which can be extra versatile and rugged than conventional photo voltaic panels. Ascent Solar modules have been named as one of many prime 100 applied sciences by R&D Magazine, and certainly one of TIME Magazine’s 50 greatest innovations. The know-how described above represents the slicing fringe of versatile energy and may be immediately built-in into shopper merchandise and off-grid purposes, in addition to different aerospace purposes. Ascent Solar is headquartered in Thornton, Colorado. More info may be discovered at www.AscentSolar.com.
Forward-Looking Statements:
Statements on this press launch that aren’t statements of historic or present truth represent “forward-looking statements.” Such forward-looking statements contain recognized and unknown dangers, uncertainties and different unknown components that would trigger the Company’s precise working outcomes to be materially totally different from any historic outcomes or from any future outcomes expressed or implied by such forward-looking statements. In addition to statements that explicitly describe these dangers and uncertainties, readers are urged to contemplate statements that include phrases resembling “believes,” “belief,” “expects,” “expect,” “intends,” “intend,” “anticipate,” “anticipates,” “plans,” “plan,” to be unsure and forward-looking. No info on this press launch ought to be construed as any indication in anyway of our future revenues, inventory value, or outcomes of operations. The forward-looking statements contained herein are additionally topic usually to different dangers and uncertainties which can be described from time to time within the Company’s filings with the Securities and Exchange Commission.
Ascent Solar Technologies
Investor Relations: [email protected]
