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Affymax, Inc. Message Board

  • jrus2010 jrus2010 Apr 7, 2011 4:32 PM Flag

    Exercise price of CEO stock options

    AFFY's proxy statement was just posted. Its significant that the new CEO's stock options are exercisable at $22.70/share. Clearly, he was brought in with the directive of getting to an approved product and was incentivized accordingly.

    Base Salary and New Hire Compensation. Mr. Orwin joined the Company in April 2010 with a base salary of $420,000. and received a new hire grant for stock options exercisable for 220,000 shares with an exercise price of $22.70 per share. The stock options vest in the amount of 25% on April 11, 2011 and thereafter in a series of thirty-six (36) successive equal monthly installments over the remainder of the four (4) year period measured from April 12, 2010.

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