Faro Technologies Reports Resumption of Executives Stock Option Exercise and Sale Plan
May 11 2004 - 5:36PM
PR Newswire (US)
Faro Technologies Reports Resumption of Executives Stock Option
Exercise and Sale Plan LAKE MARY, Fla., May 11
/PRNewswire-FirstCall/ -- FARO Technologies, Inc. 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. (Logo:
http://www.newscom.com/cgi-bin/prnh/20000522/FLM035LOGO ) "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
http://www.faro.com/.
http://www.newscom.com/cgi-bin/prnh/20000522/FLM035LOGO
http://photoarchive.ap.org/ DATASOURCE: FARO Technologies, Inc.
CONTACT: Greg Fraser, EVP & CFO, FARO, +1-407-333-9911; or Vic
Allgeier, The TTC Group, +1-212-227-0997, for FARO Web site:
http://www.faro.com/
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