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BOSTON, December 2, 2022 /PRNewswire/ — Ginkgo Bioworks Holdings, Inc. (NISE: DNA) (“Ginkgo”), which is building a leading cell programming and biosafety platform, today announced that in connection with its transaction with Bayer CropScience LP (“Baier”) ) on October 17, 2022Ginkgo granted 9,868,143 restricted shares to 139 new employees, and in connection with the acquisition of Zimmergen Inc. (“Zimmergen”) days October 19, 2022, Ginkgo granted 8,305,110 restricted shares to 179 new employees. The restricted shares were granted without stockholder approval as a material incentive to employees employed by Ginkgo pursuant to Section 303A.08 of the NISE Listed Companies Handbook and approved by the Ginkgo Compensation Committee.
Pursuant to Ginkgo’s standard vesting schedule, each grant of restricted stock to former Bayer employees will vest with 25% of the restricted stock for one year from the date of grant and 1/48 of the restricted stock units per month thereafter. Each grant of restricted stock to former employees of Zimmergen will vest either (i) as 25% of the restricted stock for one year from the date of grant and 1/48 of the restricted stock monthly thereafter, or (ii) for certain employees, up to 100% of the restricted stock units ranging in dates between approximately two and 13 months from the date of grant (and shall vest in full on the employee’s last day of employment, if such employee’s employment is terminated without cause), provided, in all cases, that the employee continues to serve as an employee or another service provider to Ginkgo or one of its subsidiaries on each such vesting date. Restricted stock units are subject to the terms of the Ginkgo Bioworks Holdings, Inc. Incentive Plan. 2022 and individual award agreements based on it.
About Ginkgo Bioworks
Ginkgo Bioworks is a leading horizontal cell programming platform, providing flexible, end-to-end services that solve challenges for organizations in a variety of markets, from food and agriculture to pharmaceuticals to industrial and specialty chemicals. Ginkgo’s biosecurity and public health unit, Concentric bi Ginkgo, is building a global biosecurity infrastructure to empower governments, communities and public health leaders to prevent, detect and respond to a wide range of biological threats. For more information visit ginkgobioworks.com and concentricbiginkgo.comread ours blogor follow us on social media channels like Twitter (@Ginkgo and @ConcentricBiGBV), Instagram (@Ginkgo Bioworks and @ConcentricBiGinkgo), or LinkedIn.
Ginkgo Bioworks Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of federal securities laws, including statements regarding the grant of incentive awards. These forward-looking statements are generally identified by the words “believe,” “may,” “project,” “potential,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,” “future, “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will,” “will continue,” “likely to result” and similar expressions. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) volatility in the price of Ginkgo’s securities due to a number of factors , including changes in the competitive and highly regulated industries in which Ginkgo operates and plans to operate, variations in performance among competitors and changes in laws and regulations affecting Ginkgo’s business, (ii) the ability to implement business plans, forecasts and other expectations, as well as to identify and realize additional business opportunities, (iii) the risk of a decline in demand for products using synthetic biology, (iv) the unpredictability of the duration of the COVID-19 pandemic and the demand for COVID-19 testing and the commercial viability of our testing for COVID-19 business, (v) changes in the biosecurity industry, including due to advances in technology, emerging competition and evolving requirements industry, standards and regulations, and (vi) our ability to realize the anticipated benefits of merger and acquisition transactions. The preceding list of factors is not exhaustive. You should carefully consider the above factors and other risks and uncertainties described in the “Risk Factors” section of Ginkgo’s Quarterly Report on Form 10-K filed with the U.S. Securities and Exchange Commission (“SEC”) on November 14, 2022 and other documents Ginkgo files with the SEC from time to time. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to place undue reliance on forward-looking statements, and Ginkgo undertakes no obligation and has no intention of updating or revising these forward-looking statements, whether as a result of new information, future events or otherwise. Ginkgo makes no guarantee that it will meet its expectations.
INVESTOR CONTACT GINKGO BIOWORKS:
investors@ginkgobiorks.com
GINKGO BIOWORKS MEDIA CONTACT:
press@ginkgobiorks.com
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SOURCE Ginkgo Bioworks
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