Catch the Wind Ltd., the developer and manufacturer of the Vindicator laser wind sensor and other wind sensor products, has appointed Christopher Lowe independent director of the company. Lowe, a senior financial executive with more than 17 years of experience in the investment banking and energy sectors, will serve as the chair of the company's audit committee and will also serve on its governance and compensation committee.
Lowe is currently chief financial officer (CFO) of Noble Environmental Power. Prior to joining Noble, he was a managing director at JPMorgan Securities.
Consistent with the company's non-employee director compensation policy, Lowe was issued a stock option grant consisting of 100,000 shares. The options have an exercise price of C$1.44. One-third of these options vested on the date of grant and the remaining two-thirds of these options will vest in equal increments on each of the first and second anniversaries of the date of grant. The expiry date of the options is Aug. 17, 2020.
In order to increase the ratio of independent directors to non-independent directors on the board, David Samuels, the CFO of Catch the Wind, has resigned.
SOURCE: Catch the Wind Ltd.