Mr. Grano was a captain in the U.S. Special Forces (Green Berets), and is a member of the City University of New York's Business Leadership Council and a former member of the National Board of D.A.R.E. He holds honorary Doctor of Law degrees from Pepperdine University and Babson College, as well as an honorary Doctor of Human Letters degree from Queens College. He served on the Board of Directors of the YMCA of Greater New York and of Lenox Hill Hospital in New York City.In connection with Mr. Grano’s appointment, the Compensation Committee of Medgenics’ Board of Directors granted Mr. Grano an inducement award consisting of stock options covering up to 300,000 shares of the Company’s common stock, $0.0001 par value per share (“Common Stock”), at a per share exercise price of $4.99, representing the closing price of the Common Stock on the last trading day before the grant date. These options have a five-year term, with 100,000 shares of Common Stock underlying such options vesting immediately and the remaining underlying shares vesting equally on March 15, 2014 and March 15, 2015, subject to his continuous service through each vesting date. The Compensation Committee of Medgenics’ Board of Directors, which is comprised solely of independent directors, granted this award on March 7, 2013 pursuant to a stand-alone award agreement outside of Medgenics’ Stock Incentive Plan as inducements material to Mr. Grano’s acceptance of his appointment to the Board of Directors in accordance with Section 711 of the NYSE MKT Company Guide and subject to approval of NYSE MKT of an additional listing application covering the shares underlying such options.
Medgenics Appoints Former Chairman And CEO Of UBS Financial Services Joseph J. Grano, Jr. To Board Of Directors
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