Re: OET Technologies Announces the Results of its AGM and Option Grant of July 7, 20
posted on
Jul 08, 2016 10:21PM
.86 cent OPTIONS granted at the meeting following the AGM !
From the news report please find the following,.........,
Comments anyone ?????..................
Option Grant..........,............
At the meeting of directors following the AGM, as part of the Company’s annual incentive stock option grant program, options were granted to certain directors, officers, key consultants and employees of the Company to purchase up to an aggregate of 3,900,000 common shares, representing approximately 1.76% of the outstanding shares of the Company.
Employees as a group 400,000
Management as a group 1,550,000
Directors as a group 950,000
CEO and Chairman’s Discretionary Pool 1,000,000
The options are exercisable for 10 years at a price of $0.86 being the closing price of the Company’s shares on July 6, 2016. 25% of the options will vest on the first anniversary of the grant and the balance will vest quarterly over a further three year period thereafter.