American Technology Corporation Reports Non-Executive Compensation.SAN DIEGO -- American Technology Corporation  Please help [ improve this article] by expanding it.Further information might be found on the talk page or at requests for expansion. (ATC ATC Air Traffic Control ATC Average Total Cost ATC Certified Athletic Trainer ATC At the Center (Hartford, Maine retreat center) ATC Applied Technology Council ATC All Things Considered ) (Nasdaq:ATCO ATCO Air Traffic Control Officer ATCO Association of Transport Coordinating Officers (UK) ATCO Air Tanker/Fixed Wing Coordinator ATCO Aviation Transportation Coordination Office ATCO Air Taxi and Commercial Operator ), an innovator of proprietary sound reproduction technologies, today announced that on November 16, 2004 the company granted inducement stock options to certain of its new employees. The options were granted without stockholder approval to two new non-executive employees as an inducement material to the individuals' entering into employment with the company, and the issuances were approved by the company's compensation committee pursuant to NASDAQ Marketplace Rule 4350(i)(1)(A)(iv). The options are exercisable for an aggregate of 4,000 shares of common stock with an exercise price of $6.70 per share. Each option has a five year term and vests 25% on the first anniversary of the grant date and then quarterly thereafter for the next 12 quarters, subject to continued employment and other conditions. The company previously disclosed the grant of these options on a Form 8-K filed with the Securities and Exchange Commission on November 22, 2004. About American Technology Corporation American Technology Corporation is Shaping the Future of Sound(R) by developing, manufacturing and globally distributing its proprietary sound technologies and products which include: the award-winning HSS HSS Humanities and Social Sciences HSS High Speed Steel HSS Home Subscriber Server (3GPP) HSS Hospital for Special Surgery (New York, NY, USA) HSS Hospital for Special Surgery HSS History of Science Society (R) (HyperSonic(R) Sound technology); LRAD LRAD Long Range Acoustic Device (non-lethal weapon that creates a directed beam of earsplitting noise) LRAD Long-Range Alpha (Particle) Detection LRAD Licentiate of the Royal Academy of Dance (TM) (Long Range Acoustic Device The long range acoustic device (LRAD) is a crowd-control and hailing device developed by American Technology Corporation. The equipment weighs 45 pounds (20 kg) and can emit sound in a 15 to 30° beam (only at high frequency) from a device 33 inches (83 cm) in ); NeoPlanar(R) planar magnetic technology and others. The Company is establishing a strong portfolio of patents, trademarks, and intellectual property including over 160 U.S. and foreign patents and patent filings to date. For more information on the company and its technologies and products please visit our web site at www.atcsd.com. |
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