Option Grant Acceleware Announces Option Grant
Tuesday, May 28, 2013
CALGARY, ALBERTA--(Marketwired - May 28, 2013) - Acceleware® Ltd. (TSX VENTURE:AXE) (the "Corporation") a leading developer of high performance computing applications for the oil and gas industry, today announced that it has granted stock options to acquire up to 1,047,464 common shares of the Corporation to certain of its employees, officers and directors. The options have an exercise price of $0.10 per common share and expire on May 28th, 2018.
Of the 1,047,464 options granted, 305,333 shall vest on the first anniversary of the grant date, 305,333 shall vest on the second anniversary of the grant date, 305,334 shall vest on the third anniversary of the grant date, 65,732 shall vest when the share price of the common shares of the Corporation closes at or above $0.125 for ten consecutive trading days, and 65,732 shall vest when the share price of the common shares of the Corporation closes at or above $0.15 for ten consecutive trading days. The stock option grant is subject to regulatory approval