Faro Technologies Reports Resumption of Executives Stock Option
Exercise and Sale Plan
Exercise and Sale Plan
LAKE MARY, Fla., May 11 /PRNewswire-FirstCall/ -- FARO Technologies, Inc. (Nasdaq: FARO) today announced that two executive officers intend to resume the process of exercising compensation-related stock options, which they began in September 2003. Simon Raab, President and CEO, is expected to exercise and sell the underlying shares for up to 148,500 stock options, and Gregory Fraser, Executive Vice President and CFO, is expected to exercise and sell the underlying shares for up to 78,500 stock options.
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"We have very strict guidelines for when we, as executive officers, can buy or sell company stock," said Simon Raab. "All of these stock options are part of our compensation package and this stock option exercise and sale will allow us to somewhat diversify our holdings without changing our core (non option-related) share holdings."
About FARO:
FARO Technologies, Inc. (Nasdaq: FARO) and its international subsidiaries design, develop, and market software and portable, computerized measurement devices. The Company's products allow manufacturers to perform three- dimensional inspections of parts and assemblies on the shop floor. This helps eliminate manufacturing errors, and thereby increases productivity and profitability for a variety of industries in FARO's worldwide customer base. Principal products include the FARO Gage(TM), Platinum and Titanium FaroArms(R), Control Station(R) measurement system, the Laser Tracker(R) and a CAM2(R) family of advanced CAD-based measurement and reporting software. FARO Technologies is ISO 9001 certified and Guide 25 approved. Learn more at www.faro.com.
SOURCE FARO Technologies, Inc.