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Article: FairPoint Communications Announces Award of Stock Options and Restricted Stock to Newly Appointed Chairman and CEO.
- Article from:
- Investment Weekly News
- Article date:
- July 18, 2009
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FairPoint Communications, Inc. (NYSE:FRP) ("FairPoint" or the "Company") announced that David L. Hauser, the Company's newly appointed chairman and chief executive officer, has been awarded options to purchase 1,600,000 shares of the Company's common stock and 523,810 restricted shares of the Company's common stock, pursuant to an employment agreement between Hauser and the Company (the "Employment Agreement"). The stock options were granted at an exercise price of $0.95 and will vest in three annual installments, beginning on July 1, 2010. The restricted stock will vest on July 1, 2012. The vesting of the stock options and the restricted stock is contingent upon Hauser's ...