Entry into a Material Definitive Agreement.
On July 20, 2021, SunHydrogen, Inc. (the 'Company') entered into redemption agreements with Timothy Young, the Company's chief executive officer, Mark Richardson, a director of the Company, and with a consultant of the Company. Pursuant to the redemption agreements, the Company agreed to redeem an aggregate of 24,887,263 options to purchase shares of common stock of the Company (including 16,300,618 options held by Mr. Young with an exercise price of $0.0099, 4,289,636 options held by Mr. Richardson with an exercise price of $0.0099, and 4,297,009 options held by the consultant with an exercise price of $0.01) for a redemption price of $0.05828 per option (with respect to the options held by Mr. Young and Mr. Richardson) or $0. 05818 per option (with respect to the options held by the consultant).
HyperSolar Inc. published this content on 23 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 July 2021 21:07:04 UTC.