Anderson Hired as Advanced Photonix CFO
ANN ARBOR, Mich., Aug. 22, 2011 — Jeffrey Anderson has been hired by Advanced Photonix Inc. (API) to serve as its chief financial officer, effective Aug. 29, the company announced.
With the appointment, Anderson will receive a grant of restricted stock under the API 2007 Equity Incentive Plan covering 100,000 shares of API Class A common stock; an option to acquire 160,000 shares of API Class A common stock; and a one-time relocation bonus in the amount of $50,000. He previously served as vice president of finance at Semiconductor Components Industries LLC.
The restricted stock and options will be granted to Anderson upon the commencement of his employment vest in quarterly installments on each of the first four anniversaries of the date of the grant.
API supplies optoelectronic solutions, high-speed optical receivers and terahertz instrumentation for telecom, homeland security, military, medical and industrial markets.
For more information, visit: www.advancedphotonix.com