LESCO Reports Option Grants
27 Settembre 2005 - 11:00PM
PR Newswire (US)
CLEVELAND, Sept. 27 /PRNewswire-FirstCall/ -- LESCO, Inc.
(NASDAQ:LSCO), today announced, as required by NASDAQ Marketplace
Rule 4350, that it has made certain stock option grants to new
employees. Consistent with the requirements of NASDAQ Marketplace
Rule 4350-(i)-1- (a)-(iv), these new employee inducement grants
were made outside the Company shareholder approved stock option
plans. These grants are classified as non- qualified stock options
with an exercise price equal to the average of the high and low
selling prices of the Company's common shares on the later of the
applicable employee's date of hire or approval of the option grant
by the Company's Board of Directors. The options vest one third
(1/3) each year for three (3) years starting on the respective
anniversaries of the applicable dates of hire, have a term of ten
(10) years and will be forfeited if not exercised before expiration
of the term. If the applicable employee's employment with the
Company is terminated for any reason, the terminated employee's
options will be forfeited if not exercised within three (3) months
of the last day worked. There were five (5) option grants totaling
61,500 shares as follows: - On March 8, 2004, a total of 25,000
shares were granted to Michael A. Weisbarth, Vice President,
Controller. - On April 5, 2004, a total of 10,000 shares were
granted to Kathleen Minahan, Senior Legal Counsel. - On October 22,
2004, a total of 15,000 shares were granted to Richard F. Doggett,
Zone Vice President. - On December 17, 2004, a total of 10,000
shares were granted to Timothy M. Peterson, Director, New
Technology. - On May 10, 2005 a total of 1,500 shares were granted
to Michael A. Oravec, Director of Planning. LESCO will disclose any
future non-plan option grants by press release pursuant to NASDAQ
Marketplace Rule 4350. About LESCO, Inc. LESCO serves more than
130,000 customers worldwide, through 293 LESCO Service Center(R)
locations, 111 LESCO Stores-on-Wheels(R) vehicles, the Internet,
and other direct sales efforts. Additional information about LESCO
can be found on the Internet at http://www.lesco.com/. Contact:
Jeffrey L. Rutherford Sr. Vice President & Chief Financial
Officer LESCO, Inc. (216) 706-9250 DATASOURCE: LESCO, Inc. CONTACT:
Jeffrey L. Rutherford, Sr. Vice President & Chief Financial
Officer of LESCO, Inc., +1-216-706-9250 Web site:
http://www.lesco.com/
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