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Green Mountain Coffee Roasters, Inc. Announces the Grant of Inducement Awards

  //house-home.news-articles.net/content/2010/12/2 .. nc-announces-the-grant-of-inducement-awards.html
  Published in House and Home on Thursday, December 23rd 2010 at 13:06 GMT by Market Wire
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WATERBURY, Vt.--([ BUSINESS WIRE ])--Green Mountain Coffee Roasters, Inc. (NASDAQ: [ GMCR ]), a leader in specialty coffee and coffee makers, announced today that, in connection with the previously announced closing of its acquisition of LJVH Holdings Inc. (aVan Houttea), it has awarded an inducement grant to each of Grard Geoffrion and Sylvain Toutant. GMCR awarded Mr. Geoffrion a non-qualified option to purchase 35,000 shares of GMCR common stock and Mr. Toutant a non-qualified option to purchase 20,000 shares of GMCR common stock.

Mr. Geoffrion and Mr Toutant will continue in their roles as President and Chief Operating Officer of Van Houtte, respectively. The option awards were granted without stockholder approval pursuant to NASDAQ Market Place Rule 5635(c)(4) and approved by all of GMCRa™s independent directors and the companya™s compensation committee, respectively. The stock options will vest at a rate of 25% on each of the first four anniversaries of the date of grants and will have an exercise price equal to the closing price of GMCR common stock on December 17, 2010 and December 22, 2010, respectively. The terms of these options are consistent with options granted under the Amended and Restated Green Mountain Coffee Roasters, Inc. 2006 Incentive Plan.

About Green Mountain Coffee Roasters, Inc.

As a leader in the specialty coffee industry, Green Mountain Coffee Roasters,Inc. is recognized for its award-winning coffees, innovative brewing technology and socially responsible business practices. GMCRa™s operations are currently managed through two business units. The Specialty Coffee business unit produces coffee, tea and hot cocoa from its family of brands, including Tullya™s Coffee^®, Green Mountain Coffee^®, Newmana™s Own^® Organics coffee, Timothya™s World Coffee^®, Diedrich^®, Coffee People^® and Gloria Jeans^®, a trademark licensed to GMCR for use in North America and owned by Gloria Jeans Coffees International Pty. Ltd. The Keurig business unit is a pioneer and leading manufacturer of gourmet single-cup brewing systems. K-Cup^® portion packs for Keurig^® Single-Cup Brewers are produced by a variety of roasters, including Green Mountain Coffee, Tullya™s, Timothya™s and Diedrich. GMCR supports local and global communities by offsetting 100% of its direct greenhouse gas emissions, investing in Fair Trade Certifieda" coffee, and donating at least five percent of its pre-tax profits to social and environmental projects. Visit [ www.gmcr.com ] for more information.

GMCR routinely posts information that may be of importance to investors in the Investor Relations section of its web site, including news releases and its complete financial statements, as filed with the SEC. GMCR encourages investors to consult this section of its web site regularly for important information and news. Additionally, by subscribing to GMCRa™s automatic email news release delivery, individuals can receive news directly from GMCR as it is released.

Forward-looking statements

Certain statements contained in this press release are not based on historical fact and are aforward-looking statementsa within the meaning of the applicable securities laws and regulations. Generally, these statements can be identified by the use of words such as aanticipate,a abelieve,a acould,a aestimate,a aexpect,a afeel,a aforecast,a aintend,a amay,a aplan,a apotential,a aproject,a ashould,a awould,a and similar expressions intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Owing to the uncertainties inherent in forward-looking statements, actual results could differ materially from those stated here. Factors that could cause actual results to differ materially from those in the forward-looking statements include, but are not limited to, the impact on sales and profitability of consumer sentiment in this difficult economic environment, GMCRa™s success in efficiently expanding operations and capacity to meet growth, GMCRa™s success in efficiently and effectively integrating Tullya™s, Timothya™s, Diedricha™s and Van Houttea™s wholesale operations and capacity into GMCRa™s business, GMCRa™s success in introducing and producing new product offerings, the ability of lenders to honor their commitments under GMCRa™s credit facility, competition and other business conditions in the coffee industry and food industry in general, fluctuations in availability and cost of high-quality green coffee, any other increases in costs including fuel, Keuriga™s ability to continue to grow and build profits with its roaster partners in the At Home and Away from Home businesses, GMCR experiencing product liability, product recall and higher than anticipated rates of warranty expense or sales returns associated with a product quality or safety issue, the impact of the loss of major customers for GMCR or reduction in the volume of purchases by major customers, delays in the timing of adding new locations with existing customers, GMCRa™s level of success in continuing to attract new customers, sales mix variances, weather and special or unusual events, the impact of the inquiry initiated by the Securities and Exchange Commission and any related litigation or additional governmental investigative or enforcement proceedings, as well as other risks described more fully in GMCRa™s filings with the SEC. Forward-looking statements reflect managementa™s analysis as of the date of this press release. GMCR does not undertake to revise these statements to reflect subsequent developments, other than in its regular, quarterly earnings releases.