XenoPort Announces New Employment Inducement Award

Published on Friday, 03 September 2010 08:37 Written by TradersHuddle Staff

SANTA CLARA, Calif.-( Business Wire )-

XenoPort, Inc. reported today that an equity award was made to a new employee subject to the terms and conditions of the XenoPort 2010 Inducement Award Plan. The employee was granted restricted stock units representing an aggregate of 750 shares of XenoPort's common stock. The restricted stock units vest in four equal annual installments on anniversaries of the September 1, 2010 grant date. The equity award was approved by the independent compensation committee of XenoPort’s board of directors and was granted as an inducement material to the new employee entering into employment with XenoPort in accordance with Nasdaq Market Place Rule 5635(c)(4).

About XenoPort

XenoPort, Inc. is a biopharmaceutical company focused on developing a portfolio of internally discovered product candidates that utilize the body’s natural nutrient transport mechanisms to improve the therapeutic benefits of existing drugs. XenoPort is developing its lead product candidate in collaboration with Astellas Pharma Inc. and GlaxoSmithKline. XenoPort’s product candidates are being studied for the potential treatment of restless legs syndrome, gastroesophageal reflux disease, neuropathic pain, spasticity and Parkinson’s disease.

To learn more about XenoPort, please visit the Web site at www.XenoPort.com.

XenoPort is a registered trademark of XenoPort, Inc.

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XenoPort, Inc.Jackie Cossmon, This e-mail address is being protected from spambots. You need JavaScript enabled to view it.