Item 2.02. Results of Operations and Financial Condition
On October 22, 2020, Zedge, Inc. (the "Registrant") issued a press release
announcing its results of operations for its fourth fiscal quarter and fiscal
year ended July 31, 2020. A copy of the press release issued by the Registrant
concerning the foregoing results is furnished herewith as Exhibit 99.1 and is
incorporated herein by reference.
The Registrant is furnishing the information contained in this Report, including
Exhibit 99.1, pursuant to Item 2.02 of Form 8-K promulgated by the Securities
and Exchange Commission (the "SEC"). This information shall not be deemed to be
"filed" with the SEC or incorporated by reference into any other filing with the
SEC unless otherwise expressly stated in such filing. In addition, this Report
and the press release contain statements intended as "forward-looking
statements" that are subject to the cautionary statements about forward-looking
statements set forth in the press release.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On October 19, 2020, the Compensation Committee of the Board of Directors
awarded 10,619 shares of the Registrant's Class B Common to Elliot Gibber in
connection with his fiscal 2020 service as Interim Chief Executive Officer,
which he served from November 7, 2019 to August 5, 2020. Mr. Gibber is currently
an independent director of the Registrant.
On October 19, 2020, the Compensation Committee of the Board of Directors
extended the expiration date of 181,616 options to purchase the Registrant's
Class B Common Stock held by Jonathan Reich, the Registrant's Chief Executive
Officer, from October 31, 2021 to May 31, 2026. Such options are fully vested
and were granted under the Registrants 2008 Stock Option and Incentive Plan. The
options have an exercise price of $1.73 per share.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No Document
99.1 Earnings Release, dated October 22, 2020, reporting the results of
operations for Zedge, Inc.'s fourth fiscal quarter and fiscal year ended
July 31, 2020.
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