Aspen Aerogels (ASPN) has issued an announcement.
Aspen Aerogels, Inc. has decided to cancel the unearned portion of performance-based restricted shares originally granted to certain employees, as achieving the set performance targets is now deemed unlikely. This action is expected to lead to a $2.2 million charge for unamortized compensation costs. The cancelled shares will be returned to the pool for future incentives under the company’s equity plan. This measure reflects the company’s adaptation to current market conditions and its reassessment of incentive strategies.
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