SOURCE: Zygo Corporation

Zygo Corporation

January 22, 2010 10:37 ET

ZYGO Announces Option Grant to President and Chief Executive Officer Under NASDAQ Listing Rule 5635(c)(4)

MIDDLEFIELD, CT--(Marketwire - January 22, 2010) - Zygo Corporation ("ZYGO") (NASDAQ: ZIGO) today announced that, under the terms of its employment agreement with its new President and Chief Executive Officer, Dr. Chris L. Koliopoulos, the Company granted a stock option for 250,000 shares of Company common stock to Dr. Koliopoulos. The stock option was granted as an inducement award in accordance with NASDAQ Listing Rule 5635(c)(4). Although the grant was not made pursuant to the Company's 2002 Equity Incentive Plan, the number of shares available under that Plan will be reduced by the number of shares covered by the grant. The stock option has a purchase price per share of $10.83, and is subject to a four year vesting schedule which may be accelerated under certain conditions. The stock option is governed by the terms and conditions of a stock option agreement and the Company's 2002 Equity Incentive Plan.

Zygo Corporation is a worldwide supplier of optical metrology instruments, precision optics, and electro-optical design and manufacturing services, serving customers in the semiconductor capital equipment and industrial markets.

IMPORTANT INFORMATION

This communication may be deemed to be solicitation material in respect of ZYGO's solicitation of proxies in connection with its Annual Meeting of Stockholders scheduled to be held on February 10, 2010. In connection with the solicitation of proxies, ZYGO filed with the U.S. Securities and Exchange Commission (the "SEC") a definitive proxy statement and other relevant documents concerning the proposals to be presented at the Annual Meeting of Stockholders.

ZYGO also intends to file additional definitive proxy materials with the SEC containing information with respect to the addition of Dr. Chris Koliopoulos to the slate of nominees being proposed for election at the Annual Meeting of Stockholders. Stockholders are advised to read the additional definitive proxy materials as well as the definitive proxy statement, previously mailed or delivered by internet delivery to stockholders, and other documents related to the solicitation of proxies from stockholders of ZYGO for use at the Annual Meeting of Stockholders, because they will contain important information. Additional definitive proxy materials and a form of proxy will be mailed or delivered by internet delivery to ZYGO's stockholders and will be available, along with other relevant documents, at no charge, at the SEC's website at http://www.sec.gov and at www.proxyvote.com/.

ZYGO and its directors and executive officers may be deemed to be participants in the solicitation of proxies from ZYGO stockholders. Certain information regarding the participants and their interests in the solicitation will be set forth in the additional definitive proxy materials and the definitive proxy materials for ZYGO's Annual Meeting of Stockholders, which will be available free of charge from the SEC at its website as indicated above.

Forward-Looking Statements

All statements other than statements of historical fact included in this news release regarding financial performance, condition and operations, and the business strategy, plans, anticipated sales, orders, market acceptance, growth rates, market opportunities, and objectives of management of the Company for future operations are forward-looking statements. Forward-looking statements are intended to provide management's current expectations or plans for the future operating and financial performance of the Company based upon information currently available and assumptions currently believed to be valid. Forward-looking statements can be identified by the use of words such as "anticipate," "believe," "estimate," "expect," "intend," "plans," "strategy," "project," and other words of similar meaning in connection with a discussion of future operating or financial performance. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors. Among the important factors that could cause actual events to differ materially from those in the forward-looking statements are fluctuations in capital spending of our customers; fluctuations in net sales to our major customer; manufacturing and supplier risks; risks of order cancellations, push-outs and de-bookings; dependence on timing and market acceptance of new product development; rapid technological and market change; risks in international operations; risks related to the reorganization of our business; dependence on proprietary technology and key personnel; length of the sales cycle; environmental regulations; investment portfolio returns; fluctuations in our stock price; the risk that anticipated growth opportunities may be smaller than anticipated or may not be realized; risks related to the acquisition of Zemetrics and integration of the business and employees; and the risk related to the Company's transition to new senior management. Zygo Corporation undertakes no obligation to publicly update or revise forward-looking statements to reflect events or circumstances after the date of this news release. Further information on potential factors that could affect Zygo Corporation's business is described in our reports on file with the Securities and Exchange Commission, including our Form 10-K, as amended by two Form 10-K/A filings, for the fiscal year ended June 30, 2009, filed with the Securities and Exchange Commission on September 14, 2009, October 26, 2009 and December 23, 2009, respectively.

Contact Information

  • For Further Information Call:
    Walter A. Shephard
    Vice President Finance, CFO, and Treasurer
    Voice: 860-704-3955
    Email Contact