date:Mar 27, 2014
elopment activities.
In connection with this acquisition, on March 25, 2014, Penford granted Allen Freed and two other key employees of Gum Technology options to purchase up to an aggregate of 45,000 shares of the Companys common stock, $1.00 par value per share, at an exercise price equal to the closing price on March 25, 2014. Each grant was approved by a majority of Penfords independent directors, and was granted as an inducement material to each recipients entering into employment with Penf