Quote from employment agreement: "(c)Long-Term
Post# of 148165
(Total Views: 525)
Posted On: 09/23/2022 12:54:40 PM
Quote from employment agreement:
"
c)Long-Term Incentive Compensation. Contingent upon approval by the stockholders of an amendment to the Company's Certificate of Incorporation to increase the number of shares authorized for issuance and subject to vesting as outlined in the applicable award agreements, Executive will be awarded an initial grant of long-term incentive compensation totaling $1,500,000, which shall include $750,000 options based on grant date fair value as calculated on the Black-Scholes model, $375,000 Restricted Stock Units (?RSUs?), and $375,000 Performance Stock Units (?PSUs?) calculated based on 100% of the trading price on the date of the grant. Vesting of PSUs will be tied to Executive's satisfactory achievement of the performance metrics approved by the Board. The RSUs will vest in four (4) equal annual installments."
The last sentence seems to allow for the BOD to determine effective achievement of metrics, each of 4 annual quarters. So, it ultimately is based on performance.
"
c)Long-Term Incentive Compensation. Contingent upon approval by the stockholders of an amendment to the Company's Certificate of Incorporation to increase the number of shares authorized for issuance and subject to vesting as outlined in the applicable award agreements, Executive will be awarded an initial grant of long-term incentive compensation totaling $1,500,000, which shall include $750,000 options based on grant date fair value as calculated on the Black-Scholes model, $375,000 Restricted Stock Units (?RSUs?), and $375,000 Performance Stock Units (?PSUs?) calculated based on 100% of the trading price on the date of the grant. Vesting of PSUs will be tied to Executive's satisfactory achievement of the performance metrics approved by the Board. The RSUs will vest in four (4) equal annual installments." The last sentence seems to allow for the BOD to determine effective achievement of metrics, each of 4 annual quarters. So, it ultimately is based on performance.
(3)
(0)CytoDyn Inc (CYDY) Stock Research Links
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