Item 3.02 Unregistered Sales of
Effective
The inducement award is exempt from the registration requirements of the
Securities Act of 1933, as amended, or the Securities Act, by virtue of Section
4(a)(2) thereof and/or Regulation D promulgated thereunder. The Company intends
to file a registration statement on Form S-8 with the
The disclosure in Item 5.02 of this Current Report on Form 8-K regarding the
issuance of the inducement award to
Item 5.02 Departure of Directors or Certain Officers; Appointment of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On
? An annual base salary of
salary if certain performance milestones are met;
? A signing bonus of
A restricted stock grant of 100,000 shares of Aytu's common stock, subject to
? certain vesting provisions set forth in
Agreement;
Upon a termination without cause by the Company or for good reason, as those
terms are defined in the CFO Employment Agreement, by
? payment equal to his base salary plus any earned incentive compensation, as
well as a continuation of Aytu's portion of COBRA payments for a period of 12
months and vesting of any issued restricted stock; and
Upon a change in control, as defined in the CFO Employment Agreement, a payment
? equal to one times the base salary and the target annual incentive bonus
compensation for the then-current year, plus 12 months of COBRA payments and
accelerated vesting of all stock options or stock based awards.
The foregoing is a summary only and does not purport to be a complete description of all of the terms of the CFO Employment Agreement or Restricted Stock Award Agreement, and is subject to and qualified in its entirety by reference to the full text of the CFO Employment Agreement and the Restricted Stock Award Agreement, which Aytu intends to file with its upcoming Quarterly Report on Form 10-Q.
The Company issued a press release on
Item 9.01 Financial Statements and Exhibits.
(d) The following exhibits are being filed herewith:
Exhibit Description 99.1* Press release datedJanuary 4, 2022 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)
* In accordance with General Instruction B.2 of Form 8-K, the information in the press release attached as Exhibit 99.1 hereto shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
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