11:20 AM EST, 12/05/2024 (MT Newswires) -- POET Technologies ( POET ) on Thursday said it appointed Bob Tirva as the director and member of its audit committee, which pushed the number of members of the board to six.

The company added Tirva's appointment will be effective Dec 5.

POET said the board approved a grant of 18,823 options to purchase common shares of the company for Tirva to encash, which will vest quarterly in arrears over 7 months, and are exercisable for 10 years at a price of CAD$7.19. Tirva will receive a cash payment of US$17,500 in two quarterly payments, the company added.

Shares of the company were last seen down $0.16 to $7.03 on the TSX Venture Exchange.

Price: 7.03, Change: -0.16, Percent Change: -2.23