Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
Pursuant to rules adopted by the
The 2020 Plan provides for the grant of the following equity-based and
cash-based incentive awards to participants: (i) stock options, (ii) stock
appreciation rights, (iii) restricted stock, (iv) restricted stock units and (v)
cash or other stock-based awards. Any of our employees, directors, consultants,
and other service providers, and those of our affiliates, are eligible to
participate in the 2020 Plan. Subject to certain adjustments, the maximum number
of shares of common stock that may be issued under the 2020 Plan in connection
with awards is the sum of (i) 1,535,500 plus (ii) an annual increase on
The 2020 Plan will expire on
This description of the 2020 Plan does not purport to be complete and is qualified in its entirety by reference to the 2020 Plan, a copy of which was filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 5.07. Submission of Matters to a Vote of Security Holders.
The disclosure under Item 5.02 of this Current Report on Form 8-K regarding the approval of the 2020 Plan by the Board and the Majority Holders is also responsive to this Item 5.07 and is incorporated by reference herein.
Such action by written consent of the Majority Holders was sufficient to approve and adopt the 2020 Plan without the affirmative vote or consent of any other stockholders of the Company. Accordingly, no other votes or consents were necessary to approve the 2020 Plan.
Item 9.01. Financial Statements and Exhibits. (d) Exhibits
The following exhibits are being filed herewith:
Exhibit No. Document 10.1 2020 Equity Incentive Plan
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