Smart Balance Reports Granting of Inducement Award
PARAMUS, N.J., Nov. 27, 2012 (GLOBE NEWSWIRE) -- Smart Balance, Inc. (Nasdaq:SMBL) reported today that it has granted an inducement award to Lydia Cross-Patterson, a new non-executive employee of Udi's Healthy Foods, LLC. The award was made on November 19, 2012 under the Smart Balance, Inc. 2012 Inducement Award Plan, which provides for the granting of stock option awards to new employees as an inducement to join the company. The inducement award consists of a total of 5,000 options for shares of Smart Balance (SMBL) common stock. 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 the one-year anniversary of the grant date.
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 brands that target specific consumer needs: Glutino and Udi's for gluten-free diets; Earth Balance for plant-based diets; Smart Balance for heart healthier diets; and Bestlife for weight management. For more information about Smart Balance, Inc., please visit www.smartbalance.com .
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CONTACT: Carole Buyers, CFA Senior Vice President, Investor Relations & Business Development Smart Balance, Inc. email@example.com 303-652-0521 x152
Source: Smart Balance, Inc. 2012 GlobeNewswire, Inc.