XPO » Topics » THEREUNDER FROM 600,000 SHARES TO 5,600,000 SHARES

This excerpt taken from the XPO DEF 14A filed May 9, 2005.

THEREUNDER FROM 600,000 SHARES TO 5,600,000 SHARES

 

The Company has proposed that the Company’s 2001 Stock Option Plan be amended such that the number of shares of Common Stock available for issuance under the 2001 Stock Option Plan be increased from 600,000 shares to 5,600,000 shares.

 

The 2001 Stock Option Plan was approved by the Company’s stockholders on November 1, 2001. The 2001 Stock Option Plan provides for the issuance of stock options and the grant of restricted stock awards. The Company has in the past, and if this proposal is approved by the stockholders, expects to continue in the future, to issue awards under the 2001 Stock Option Plan to attract qualified individuals to become employees (management and otherwise) and non-employee directors of the Company, and to ensure the retention of said individuals.

 

Currently, all 600,000 shares of Common Stock available for issuance under the 2001 Stock Option Plan have been issued.

 

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