On October 23, 2012, the shareholders approved the amendment, restatement and renaming of our 2002 Amended and Restated Stock Incentive Plan as our Amended and Restated 2012 Equity Incentive Plan. As a result of that approval, the remaining aggregate shares that were previously awarded of 140,816 and that were earned as a result of the achievement of one of the performance goals established in the Company’s Long Term Incentive Programs established as part of executive compensation and non-employee director compensation were issued. A total of 75,411 shares were issued to executive officers and 65,405 shares were issued to non-employee directors.

Of the aggregate 140,816 shares issued under the LTIPs, (i) 56,482 shares were issued to Dr. Bonfiglio of which 14,939 shares were retained by the Company for applicable tax withholding obligations, (ii) 18,929 shares were awarded to Dr. Handfield of which 5,007 shares were retained by the Company for applicable tax withholding obligations.

On October 23, 2012 the Compensation Committee of the Board of Directors approved the award of 83,500 shares of our common stock to Michael Sullivan our Chief Financial Officer. Of the 83,500 shares which were awarded, 26,261 shares were retained by the Company for applicable tax withholding obligations. The award was made in consideration of Mr. Sullivan’s services since he joined the Company, including but not limited to, his services regarding the Company’s securities filings, the financings by the KFLP, the Intrexon collaboration, the recent substantial capital raise closing and related follow-on registration statement. The fair market value of the shares awarded to Mr. Sullivan was $175,350.