Dendrite Announces Grant under New Hire Authorization
July 19 2006 - 4:10PM
Business Wire
Pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv), as amended
October 14, 2003, Dendrite International, Inc. (NASDAQ: DRTE) today
announced that stock options covering an aggregate of 100,000
shares of common stock were granted to Carl Cohen on June 28, 2006
in connection with his appointment as President, Marketing
Services, and stock options covering an aggregate of 25,000 shares
were granted to Ronald Pearce on June 26, 2006 in connection with
his appointment as Vice President and Corporate Controller. The
Company also announced that stock options covering an aggregate of
30,000 shares of common stock were granted to one non-executive
officer employee on April 24, 2006 and options covering an
aggregate of 7,000 shares were granted to two non-executive officer
employees on February 3, 2006. All such option grants were made
under the Company's New Hire Authorization as inducements to
entering into employment with the Company. All options granted
include a ten-year duration and an exercise price equal to the
closing price of Dendrite's stock on the business day immediately
preceding the date of grant. The vesting schedule for the options
is as follows: (i) twenty-five percent (25%) of the options shall
first become exercisable on the first anniversary of date of grant
and (ii) the remaining seventy-five percent (75%) shall become
exercisable pro rata over the following three (3) year period, on a
monthly basis, commencing on the first anniversary of the date of
grant and ending on the fourth anniversary of the date of grant.
About Dendrite Founded in 1986, Dendrite International (NASDAQ:
DRTE) provides sales, marketing, clinical and compliance solutions
for the global, pharmaceutical industry. Dendrite has clients in
more than 50 countries, including the world's top 20 pharmaceutical
companies. For more information, please visit www.dendrite.com.
Note: Dendrite is a registered trademark of Dendrite International,
Inc. This document may contain forward-looking statements that may
be identified by such forward-looking terminology as "expect,"
"believe," "anticipate," "will," "intend," "plan," "target,"
"outlook," "guidance," and similar statements or variations. Such
forward-looking statements are based on our current expectations,
estimates, assumptions and projections and involve significant
risks and uncertainties, including risks which may result from our
dependence on the pharmaceutical industry; fluctuations in
quarterly revenues due to lengthy sales and implementation cycles
for certain of our solutions; our fixed expenses in relation to
fluctuating revenues and variations in customers' budget cycles;
dependence on certain major customers; changes in demand for our
products and services attributable to any weakness experienced in
the economy or mergers, acquisitions and consolidations in the
pharmaceutical industry; successful and timely development and
introduction of new products and versions; rapid technological
changes; increased competition; international operations;
integrating the entities we acquire; our ability to effectively
manage our growth; the protection of our proprietary technology;
our ability to compete in the Internet-related products and
services market; the continued demand for Internet-related products
and services; the ability of our third party vendors to respond to
technological change; our ability to maintain our relationships
with third-party vendors; less favorable than anticipated results
from strategic relationships; dependence of data solutions on
strategic relationships; events which may affect the U.S. and world
economies; and catastrophic events which could negatively affect
our information technology infrastructure. Other important factors
that should be reviewed and carefully considered are included in
the company's 10-K, 10-Qs, and other reports filed with the SEC.
Actual results may differ materially. The company assumes no
obligation for updating any such forward-looking statements to
reflect actual results, changes in assumptions or other changes
affecting such forward-looking statements.
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