Kraken Robotics Issues Stock Options to Employees
Kraken Robotics Inc. announced the board of directors has approved the issuance of 1.77 million stock options to employees. The options have a three-year term and an exercise price of $0.18.
ST. JOHN’S, NEWFOUNDLAND – December 18, 2017 – Kraken Robotics Inc. has announced that its Board of Directors has approved the grant of 1,770,000 stock options to company employees. The move is intended to further align employees with the company's performance and shareholder value.
The stock options will have a three-year term, with vesting occurring in three equal installments starting on the grant date and continuing on the first and second anniversaries of the grant. The exercise price for these options has been set at $0.18 per share.
Kraken's President and CEO, Karl Kenny, stated that employees are fundamental to the organization and have developed key technologies in the underwater robotics sector. He explained that providing stock options aims to encourage employees to think like owners and contribute to enhancing corporate and shareholder value.
Kraken Robotics Inc., founded in 2012, specializes in the development and sale of software-centric sensors and underwater robotic systems. The company is headquartered in St. John's, Newfoundland, with international offices.