SAN DIEGO, Oct. 7 /PRNewswire-FirstCall/ -- Biosite Incorporated
(Nasdaq: BSTE), today announced that it has increased the share reserve for
its 2002 Nonqualified Stock Incentive Plan by 400,000 shares. The Company has
also modified the plan to allow for the grant of inducement stock awards to
officers in accordance with applicable Nasdaq rules.
Biosite also reported that in accordance with NASDAQ Marketplace Rule
4350, 98 non-officer employees were granted inducement stock options covering
an aggregate of 75,900 shares of common stock. In addition, the Company's s
compensation committee also approved the grant of inducement stock options to
two newly hired officers, Robert Anacone, senior vice president worldwide
marketing and sales, and Winton Gibbons, senior vice president market
strategy, subject to their commencement of employment. Anacone and Gibbons
were each granted inducement stock options covering 50,000 shares of common
stock.
All of these options will be granted pursuant to NASDAQ Marketplace Rule
4350 (i)(1)(A)(iv) with the following terms: each option will be classified as
a non-qualified stock option, have an exercise price equal to the fair market
value on the grant date, have a ten-year term, and vests in 16 equal quarterly
installments over four years (on each quarterly anniversary of the applicable
vesting commencement date).
About Biosite Incorporated
Biosite Incorporated is a leading bio-medical company commercializing
proteomics discoveries for the advancement of medical diagnosis. The
Company's products contribute to improvements in medical care by aiding
physicians in the diagnosis of critical diseases and health conditions.
Biosite's Triage(R) rapid diagnostics are used in approximately 50 percent of
U.S. hospitals and in over 50 international markets. Information on Biosite
can be found at http://www.biosite.com.
Biosite(R) Triage(R) and New Dimensions in Diagnosis(R) are registered
trademarks of Biosite Incorporated. The Company's logo is a trademark of
Biosite Incorporated.
SOURCE Biosite Incorporated
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Related links:
http://www.biosite.com
Company News On-Call:
http://www.prnewswire.com/comp/116737.html
CONTACT:
Nadine Padilla, Vice President, Corporate &
Investor Relations of Biosite Incorporated, +1-858-455-4808, ext.
3187, npadilla@biosite.com
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