Codexis Implements Employment Inducement Strategy to Attract Talent

Codexis Announces New Employment Inducement Grants

Codexis, Inc. (NASDAQ: CDXS), a renowned leader in enzyme engineering, has recently disclosed the approval of significant equity grants to three new employees as sanctioned by the Codexis Compensation Committee. This strategic move aims to attract top-tier talent to enhance their innovative endeavors within the rapidly evolving biotechnology sector.

Details of the Equity Grants

The newly hired personnel received a comprehensive package consisting of stock options allowing them to purchase 4,950 shares of Codexis common stock, alongside 8,125 restricted stock units (RSUs) as part of the company's 2024 Inducement Plan. These equity awards are designed to foster loyalty and align the interests of the employees with those of the company.

Vesting Schedule

The stock options will have an exercise price matching the closing price per share of Codexis’ common stock, as reported by Nasdaq on the grant date. The vesting period is structured over four years, with 25 percent of the shares becoming available after one year and the remaining shares vesting monthly thereafter, contingent on the employees’ continued service with Codexis. Meanwhile, the RSUs will vest in equal annual installments over three years, encouraging a long-term commitment from new team members.

Company Overview

Codexis excels in enzyme engineering through its proprietary CodeEvolver technology platform, which significantly aids in discovering and enhancing novel enzymes and proteins. The company addresses real-world challenges in small molecule pharmaceuticals manufacturing and nucleic acid synthesis. Currently, Codexis is actively advancing its ECO Synthesis™ manufacturing platform to facilitate the large-scale production of RNAi therapeutics through enzymatic processes. This innovative approach promises to yield higher efficiencies, reduced energy consumption, and minimized waste—all crucial factors in modern manufacturing. Additionally, Codexis’ unique enzymes offer improved sensitivity in genomic and diagnostic applications.

Future Prospects

The growth of Codexis is closely tied to its ability to attract and retain skilled professionals who are crucial for the company's continued success in developing breakthrough therapeutic solutions. The focus on equity grants reflects an understanding of the current job market where the demand for skilled professionals is exceptionally high. As Codexis continues to grow and innovate, the company’s commitment to employee development and satisfaction will remain a top priority.

Contact Information

For further details or inquiries, please contact:

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

Media Contact
Lauren Musto
(650) 421-8205
media@codexis.com

Frequently Asked Questions

What are the employment inducement grants provided by Codexis?

Codexis has approved equity grants for new employees, including stock options and restricted stock units, to attract and retain talent.

How many shares are included in Codexis' equity grants?

The equity grants include options to purchase 4,950 shares and 8,125 restricted stock units.

What is the vesting schedule for the stock options?

The stock options vest over four years, with 25% available after one year, followed by monthly vesting for the remaining shares.

What is the focus of Codexis in the biotechnology sector?

Codexis is focused on enzyme engineering, developing solutions for small molecule pharmaceuticals and RNAi therapeutic manufacturing.

Who can I contact for more information about Codexis?

For investor inquiries, contact Carrie McKim at (336) 608-9706. For media inquiries, reach Lauren Musto at (650) 421-8205.

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