Codexis Announces New Employment Inducement Grants

Rhea-AI Summary

Codexis (NASDAQ: CDXS) has announced the approval of equity grants for two new employees, as authorized by the company's Compensation Committee. The inducement awards, issued under the 2024 Inducement Plan, include:

- Stock options to purchase 10,000 shares, with an exercise price matching Codexis' Nasdaq closing price on the grant date
- 5,000 restricted stock units (RSUs)

The stock options vest over four years, with 25% vesting after the first year and the remainder vesting monthly thereafter. The RSUs will vest in equal annual installments over three years. Both grants require continued employment with Codexis through applicable vesting dates.

REDWOOD CITY, Calif., March 07, 2025 (GLOBE NEWSWIRE) -- Codexis, Inc. (NASDAQ: CDXS), a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, today announced the approval of equity grants to two new employees as approved by the Compensation Committee of Codexis’ Board of Directors. The newly hired employees received equity awards consisting of an aggregate of (i) options to purchase 10,000 shares of Codexis common stock and (ii) 5,000 restricted stock units (RSUs) as inducement awards under the Company’s 2024 Inducement Plan.

The stock options have an exercise price equal to the closing price per share of Codexis’ common stock as reported by Nasdaq on the grant date, and vest over four years, with 25 percent of the shares vesting on the first anniversary of the vesting commencement date, and the remainder vesting ratably at the end of each subsequent month thereafter, subject to each employee’s continued service with Codexis through the applicable vesting dates. The RSUs will vest in equal annual installments on each anniversary of the grant date, until the third anniversary of such date, subject to each employee’s continued service with Codexis through the applicable vesting dates.

Codexis is providing this information in accordance with Nasdaq Listing Rule 5635(c)4.

About Codexis

Codexis is a leading provider of enzymatic solutions for efficient and scalable therapeutics manufacturing, leveraging its proprietary CodeEvolver^® technology platform to discover, develop and enhance novel, high-performance enzymes. Codexis enzymes solve for real-world challenges associated with small molecule and nucleic acid therapeutics manufacturing. The Company is currently developing its proprietary ECO Synthesis™ manufacturing platform to enable the scaled manufacture of RNAi therapeutics through an enzymatic route. Codexis’ unique enzymes can drive improvements such as higher yields, reduced energy usage and waste generation, improved efficiency in manufacturing and greater sensitivity in genomic and diagnostic applications. For more information, visit www.codexis.com.

For More Information

Carrie McKim
(336) 608-9706
ir@codexis.com

FAQ

What equity grants did Codexis (CDXS) approve for new employees in March 2025?

Codexis approved stock options for 10,000 shares and 5,000 RSUs for two new employees under their 2024 Inducement Plan.

How do the vesting terms work for Codexis' (CDXS) new employee stock options?

The stock options vest over 4 years - 25% after year one, with remaining shares vesting monthly thereafter.

What is the vesting schedule for the RSUs granted by Codexis (CDXS)?

The RSUs vest in equal annual installments over three years from the grant date.

What is the exercise price for the stock options granted by Codexis (CDXS)?

The exercise price equals Codexis' Nasdaq closing price on the grant date.