Leap’s Moschner to purchase stock

SAN DIEGO-Leap Wireless International Inc.’s board of directors granted Albin Moschner, the company’s executive vice president and chief marketing officer, the option to purchase 40,000 shares of Leap’s common stock at $34.37 per share under the company’s 2004 Stock Option, Restricted Stock and Deferred Stock Unit Plan. The board also granted Moschner the ability to purchase an additional 15,000 company shares at .0001 cents per share.

Leap noted in a Securities and Exchange Commission filing that the shares would vest in five years, or could be accelerated if the company reaches certain financial and operational milestones over the next three years.

Leap’s stock was trading down 29 cents per share early Wednesday at $32.14 per share.