Item 5.02 Departure of Directors or Certain Offices; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
The individual Option grant for each Named Executive is as follows: Executive Option Grant AmountMr. Wollney 175,000 SharesMr. Romano 115,000 SharesMr. Shugrue 100,000 Shares
In addition to the named officers, an aggregate of 255,000 Options were granted to independent directors and an aggregate of 371,000 Options were granted to management employees other than the Named Executives above. The Options granted to management shall vest in three equal installments, with each installment vesting on the 1st, 2nd and 3rd anniversary of the date of the grant. The Options granted to independent directors vested immediately upon the date of the grant. The Options will expire on the 7th anniversary of the date of the grant. In the event of a change of control of the Company, or should a director or employee's service with the Company be terminated other than for cause or voluntary resignation, any unvested Options will immediately vest.
All grants are made pursuant to the Company's 2013 Equity Incentive Plan (the "Plan") as previously approved by shareholders, and the description set forth herein is qualified in its entirety by the terms of such Plan.
Item 8.01 Other Events.
The Board of Directors of
Because the scheduled date of the Annual Meeting is more than 30 days after the
anniversary date of the Company's 2018 annual general meeting of shareholders,
prior deadlines regarding the submission of shareholder proposals in connection
with the Annual Meeting are no longer applicable. Pursuant to Rule 14a-5(f)
under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), the
Company is providing notice of certain revised deadlines for the submission of
shareholder proposals in connection with the Annual Meeting. In order for a
shareholder proposal submitted pursuant to Rule 14a-8 under the Exchange Act
("Rule 14a-8") to be considered timely for inclusion in the Company's proxy
statement and form of proxy for the Annual Meeting, such proposal must be
received by the Company by
--------------------------------------------------------------------------------
© Edgar Online, source