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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