PARAMUS, N.J., April 6, 2012 (GLOBE NEWSWIRE) -- Smart Balance, Inc. (Nasdaq:SMBL) reported today that it has granted inducement awards to Christina Calabrese in connection with her appointment as Vice President, Controller and Chief Accounting Officer and to one other non-executive employee.
The awards were made on March 30, 2012 under the Amended and Restated Smart Balance, Inc. Inducement Award Plan, which provides for the granting of stock option awards to new employees as an inducement to join the company. The inducement awards consist of (a) an option for 100,000 shares of Smart Balance common stock granted to Ms. Calabrese, and (b) an option for 15,000 shares of Smart Balance common stock granted to one other non-executive employee. The options have a ten year term and an exercise price equal to the fair market value of Company common stock on the date of grant. The options vest in four equal annual installments beginning on March 30, 2013.
In the Form 8-K filed on April 4, 2012 in connection with Ms. Calabrese's appointment, the Company incorrectly stated that the options were granted to her under the Second Amended and Restated Smart Balance, Inc. Stock and Awards Plan.
About Smart Balance, Inc.
Smart Balance, Inc. (Nasdaq:SMBL) is committed to providing superior tasting, solution-driven products in every category it enters. The company's health and wellness platform consists of four brands that target specific consumer needs: Smart Balance for heart healthier diets; Glutino for gluten-free diets; Earth Balance for plant-based diets; and Bestlife for weight management. The company markets the Smart Balance line of products, which avoids trans-fats naturally and balances fats and/or reduces saturated fats, such as Smart Balance® Buttery Spreads and Enhanced Milks. The company's Glutino brand is a trusted pioneer and leader in the gluten-free category, with a wide variety of great-tasting gluten-free foods consumers trust across a number of product categories, such as Glutino® Pretzel Twists and Breakfast Bars. The company markets the Earth Balance line of non-GMO plant-based products, which include Earth Balance® Buttery Spreads, Nut Butters and Soy Milks. The company also markets weight management products under the Bestlife brand, which include Bestlife™ Buttery Spreads and Sticks. For more information about Smart Balance, Inc., please visit www.smartbalance.com.