Sigma Labs (NASDAQ: SGLB), a leading developer of quality assurance software for the commercial 3D printing industry, on Tuesday announced the appointment of accomplished software industry executive Mark K. Ruport as executive chairman and a member of the company’s board of directors. In his new role with Sigma Labs, Ruport will leverage his history of building companies through strategic relationships, joint development agreements, innovative sales strategies and a focused management of day-to-day operations. He will also partner with CEO and board member John Rice to drive the company’s market momentum, fast-track its growth and boost shareholder value. In accordance with NASDAQ Listing Rule 5635(c)(4), Sigma Labs granted non-qualified stock options to Ruport as an inducement award outside its 2013 Equity Incentive Plan. Effective as of December 3, 2019, the company granted Ruport a stock option to purchase up to 100,000 shares that will vest and become exercisable in full one month from the grant date. SGLB also granted Ruport a stock option to purchase up to 400,000 shares of common stock that will vest and become exercisable in equal monthly installments over three years from the grant date, if Ruport remains continuously employed by the company through such vesting date. The options have an exercise price equal to the closing price of Sigma Labs’ common stock on the grant date and will expire on the day before the fifth anniversary of the grant date. “As evidenced by the recent progress with OEMs, end users and additive manufacturing integrators, our business is now at an inflection point that requires an industry veteran to amplify our success and accelerate our market penetration alongside strategic partners with a keen interest in our technology,” Sigma Labs CEO John Rice stated in the news release. “Mr. Ruport’s long history of taking companies through various stages of growth will be invaluable as we enter the next phase of our growth cycle. We believe there is significant potential for shareholder value creation and look forward to unlocking this for our shareholders under Mark’s leadership.”
To view the full press release, visit http://ibn.fm/tHEcE
About Sigma Labs
Sigma Labs, Inc. (NASDAQ: SGLB) is a leading provider of quality assurance software to the commercial 3D printing industry under the PrintRite3D(R) brand. Founded in 2010, Sigma is a software company that specializes in the development and commercialization of real-time computer aided inspection (CAI) solutions known as PrintRite3D(R) for 3D advanced manufacturing technologies. Sigma Labs’ advanced computer-aided software product revolutionizes commercial additive manufacturing, enabling non-destructive quality assurance mid-production, uniquely allowing errors to be corrected in real-time. For more information, please visit www.SigmaLabsInc.com.
NOTE TO INVESTORS: The latest news and updates relating to SGLB are available in the company’s newsroom at http://ibn.fm/SGLB
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