1-2-3 JUMP! -
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Published on: 6/3/2001
Last Visited: 6/3/2001
Sheau Sheng Chen , Ph.D. is our Founder and has served as Chairman of our Board of Directors since June 2000.From January 1996 to June 2000 , Dr. Chen served as our President and Chief Executive Officer , and he continues to provide services to WaveSplitter.Dr. Chen served as Chairman of XMR Corporation , from December 1991 to December 1999.Dr. Chen holds a Ph.D. in physical chemistry from Texas A&M University.
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Officer ( 1 ) Sheau Sheng Chen , Ph.D......... 2000 240 , 000
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600 , 000
-- Founder , Chairman and Former
President and Chief
Executive Officer ( 2 ) Bruce C. Pollock............... 2000 206 , 935
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-- Vice President , Chief
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( 2 ) Dr. Chen became our Chairman in June 2000.Prior to that , he served as our President and Chief Executive Officer from January 1996 to June 2000.
Option Grants In Last Fiscal Year
The following table provides information concerning grants of options to purchase our common stock made during the fiscal year ended December 31 , 2000 to the Named Executive Officers.
In the fiscal year ended December 31 , 2000 , we granted options to purchase up to an aggregate of 8 , 859 , 350 shares to employees , directors and consultants.All options were granted under our 1997 stock plan at exercise prices equal to the fair market value of our common stock on the date of grant , as determined in good faith by the board of directors.
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8 , 154 , 400 13 , 105 , 453 23 , 772 , 267 Sheau Sheng Chen , Ph.D..................
400 , 000
4.5
0.25
2/3/2010
220 , 000
421 , 246
729 , 998
200 , 000
2.3
0.25
2/3/2010
110 , 000
210 , 623
384 , 999 Bruce C. Pollock.......
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-- Sheau Sheng Chen , Ph.D. ... 1 , 400 , 000 $180 , 000
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-- Bruce C. Pollock..........
346 , 780
17 , 339
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On March 15 , 2000 , Sheau Sheng Chen exercised an option to purchase 800 , 000 shares of our common stock.At the time of exercise , 600 , 000 of these purchased shares were vested and the remaining 200 , 000 were unvested and subject to repurchase at cost by us.On March 21 , 2000 , Mr. Chen exercised options to purchase 600 , 000 shares of our common stock.At the time of the March 21 exercise , all 600 , 000 shares were unvested and subject to repurchase at cost by us.As of December 31 , 2000 , 750 , 000 of the shares purchased on March 15 , 2000 and March 21 , 2000 were vested and 650 , 000 were unvested.The unvested shares vest over a four-year period from the date of grant while Mr. Chen remains employed with us.
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From January 1996 to June 2000 , Dr. Chen served as our President and Chief Executive Officer.Dr. Chen's current annual base salary is $240 , 000 with a target bonus of 40 % , or $96 , 000 , for continuing services to WaveSplitter.In addition , if this offering is consummated prior to March 31 , 2001 , Dr. Chen's options to purchase 600 , 000 shares of our common stock will become fully vested.
In the event any of Messrs.
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