Eightco Holdings (ORBS) director awarded 4,000,000 stock options at $1.01
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Eightco Holdings Inc. director Lee Thomas Jong received a grant of stock options as compensation for his service on the company’s Board of Directors. The award covers 4,000,000 stock options, each giving the right to buy one share of common stock at an exercise price of $1.01 per share.
The options vest in four equal annual installments of 25%, beginning on the first anniversary of the grant date, so full vesting occurs over four years if he continues serving the company. All of these options are reported as directly owned, and they will expire ten years after the grant date if not exercised.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Lee Thomas Jong
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Stock Option (Right to Buy) | 4,000,000 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 4,000,000 shares (Direct)
Footnotes (1)
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FAQ
What did Lee Thomas Jong receive in this Eightco Holdings (ORBS) Form 4?
Lee Thomas Jong received a grant of 4,000,000 stock options in Eightco Holdings Inc. The options are compensation for his Board service and give him the right to buy common shares at a fixed $1.01 exercise price.
What is the exercise price of the new Eightco Holdings stock options?
The new stock options have an exercise price of $1.01 per share. This means Jong can purchase Eightco Holdings common stock at $1.01, regardless of future market prices, once the options vest and before they expire.
How do the Eightco Holdings (ORBS) options granted to Jong vest over time?
The options vest in four equal annual installments of 25% each. Vesting starts on the first anniversary of the grant date, and full vesting requires Jong’s continued service with Eightco Holdings through each annual vesting date.
When do Lee Thomas Jong’s Eightco Holdings stock options expire?
Each stock option expires ten years after the grant date. If Jong does not exercise vested options by that expiration date, he loses the right to buy Eightco Holdings common stock at the $1.01 exercise price.
Are the Eightco Holdings (ORBS) options held directly or indirectly by Lee Thomas Jong?
The filing shows the 4,000,000 stock options as directly owned by Lee Thomas Jong. There is no indication of ownership through trusts, LLCs, or other indirect entities in this particular Form 4 disclosure.
What role does the Cryptyde, Inc. 2022 Long-Term Incentive Plan play in this Eightco grant?
The options were issued under the Cryptyde, Inc. 2022 Long-Term Incentive Plan. This plan provides the framework for granting equity awards like these options as compensation for Eightco Holdings’ directors and aligns their interests with shareholders.