GreenPower Announces Annual Stock Option Grants

Rhea-AI Summary

GreenPower Motor Company (Nasdaq: GP) has announced its annual stock option grants to key personnel. The company has allocated 525,000 incentive stock options to four Independent Directors and three Officers, 250,000 options to employees, and 25,000 options to a consultant. The options are exercisable for five years at CDN $0.78 per share, pending TSX Venture Exchange approval.

The vesting schedule varies by position: Directors and CFO's 75,000 options each will fully vest one year after the grant date, while employee and consultant options will fully vest three years after the grant date. All options begin vesting in increments four months post-grant.

Positive

• Stock option grants align management and employee interests with shareholders
• Structured vesting schedule promotes long-term retention of key personnel

Negative

• Potential dilution of existing shareholders upon exercise of 800,000 new stock options
• Stock options priced in Canadian dollars may create currency risk for US investors

VANCOUVER, BC, March 14, 2025 /PRNewswire/ -- GreenPower Motor Company Inc. (Nasdaq: GP) (TSXV: GPV) ("GreenPower" and the "Company"), a leading manufacturer and distributor of all-electric, purpose-built, zero-emission medium and heavy-duty vehicles serving the cargo and delivery market, shuttle and transit space and school bus sector, today announced its annual stock option grant to the Directors, Officers, Employees and Consultants.

The Company granted 525,000 incentive stock options to the four Independent Directors and three Officers of the Company, 250,000 incentive stock options to employees of the Company and 25,000 stock options to a consultant. The stock options are subject to the approval of the TSX Venture Exchange and are exercisable for a period of five years at a price of CDN $0.78 per share. Each Director and the CFO were granted 75,000 stock options that vest in increments beginning four months after the grant date, and the stock options will be fully vested one year after the grant date. For the employees and the consultant, the stock options vest in increments beginning four months after the grant date, and the stock options will be fully vested three years after the grant date.

For further information contact:

Fraser Atkinson, CEO
(604) 220-8048

Brendan Riley, President
(510) 910-3377

Michael Sieffert, CFO
(604) 563-4144

About GreenPower Motor Company Inc.
GreenPower designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van and a cab and chassis.  GreenPower employs a clean-sheet design to manufacture all-electric vehicles that are purpose built to be battery powered with zero emissions while integrating global suppliers for key components. This OEM platform allows GreenPower to meet the specifications of various operators while providing standard parts for ease of maintenance and accessibility for warranty requirements. GreenPower was founded in Vancouver, Canada with primary operational facilities in southern California. Listed on the Toronto exchange since November 2015, GreenPower completed its U.S. IPO and NASDAQ listing in August 2020. For further information go to www.greenpowermotor.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.  ©2025 GreenPower Motor Company Inc. All rights reserved.

View original content to download multimedia:https://www.prnewswire.com/news-releases/greenpower-announces-annual-stock-option-grants-302402298.html

SOURCE GreenPower Motor Company

FAQ

How many stock options did GreenPower Motor (GP) grant in its 2025 annual allocation?

GreenPower granted a total of 800,000 stock options: 525,000 to Directors and Officers, 250,000 to employees, and 25,000 to a consultant.

What is the exercise price for GreenPower's (GP) 2025 stock option grants?

The stock options are exercisable at CDN $0.78 per share.

What is the vesting schedule for GreenPower's (GP) 2025 Director stock options?

Directors' options begin vesting after 4 months and become fully vested one year after the grant date.

How long can GreenPower (GP) stock option recipients exercise their 2025 grants?

The stock options have a five-year exercise period from the grant date.