Alere Inc. Reports Employment Inducement Award Pursuant to NYSE Rule 303A.08

Jan 04, 2013, 17:49 ET from Alere Inc.

WALTHAM, Mass., Jan. 4, 2013 /PRNewswire/ -- Alere Inc. (NYSE: ALR) (the "Company") announced today, pursuant to NYSE Rule 303A.08, that it granted an employment inducement award to Namal Nawana, the Company's new Chief Operating Officer, as part of his previously disclosed compensation package. On December 12, 2012, the Company announced the appointment of Mr. Nawana to serve as its new COO, effective December 30, 2012.

As of December 30, 2012, Mr. Nawana was granted Restricted Stock Units (RSUs) in Alere Inc. as follows: 5,000 RSUs to vest 1 year after the grant date, 5,000 RSUs to vest 2 years after the grant date, and 100,000 RSUs to vest 3 years after the grant date. These RSUs were granted as an employment inducement award outside of Alere Inc.'s current shareholder approved stock options and incentive plans pursuant to NYSE Rule 303A.08. For the further details regarding Mr. Nawana's employment and compensation, please see the Company's Current Report on Form 8-K filed December 12, 2012 with the Securities and Exchange Commission.

About Alere Inc. By developing new capabilities in near-patient diagnosis, monitoring and health management, Alere enables individuals to take charge of improving their health and quality of life at home. Alere's global leading products and services, as well as its new product development efforts, focus on cardiology, infectious disease, toxicology, diabetes, oncology and women's health. Alere is headquartered in Waltham, Massachusetts.

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SOURCE Alere Inc.