Odysight.ai (NASDAQ: ODYS) awards 40,000 stock options to new COO
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Odysight.ai Inc. reported that its board, following a recommendation from the Compensation Committee, granted Chief Operating Officer Ronen Tanami an option to purchase 40,000 shares of common stock under the 2024 Stock Incentive Plan at an exercise price of $5.09 per share.
One-third of the option vests on the first anniversary of the grant date, with the remaining shares vesting over the following two years in eight equal quarterly installments, as long as Tanami remains a service provider. The option includes accelerated vesting if there is a change of control of the company.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Option grant size: 40,000 shares
Exercise price: $5.09 per share
Initial vesting portion: One-third of shares
+1 more
4 metrics
Option grant size
40,000 shares
Stock option award to COO Ronen Tanami
Exercise price
$5.09 per share
Strike price of COO stock options
Initial vesting portion
One-third of shares
Vests on first anniversary of grant date
Remaining vesting period
Two years
Balance vests in eight equal quarterly installments
Key Terms
2024 Stock Incentive Plan, exercise price, change of control, Emerging growth company
4 terms
2024 Stock Incentive Plan financial
"pursuant to the Company’s 2024 Stock Incentive Plan and have an exercise price"
exercise price financial
"have an exercise price of $5.09 per share"
The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.
change of control financial
"The options are subject to acceleration of vesting in the event of a change of control of the Company"
A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.
Emerging growth company regulatory
"Emerging growth company Item 5.02 Departure of Directors or Certain Officers"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
FAQ
What equity award did Odysight.ai (ODYS) grant its new COO?
Odysight.ai granted Chief Operating Officer Ronen Tanami an option to purchase 40,000 shares of common stock. The award was approved by the board under the 2024 Stock Incentive Plan with a fixed exercise price of $5.09 per share.
What is the exercise price of the Odysight.ai COO stock options?
The options granted to Odysight.ai’s COO have an exercise price of $5.09 per share. This price is the amount Tanami must pay per share to exercise the options and acquire Odysight.ai common stock in the future.
How do the Odysight.ai COO stock options vest over time?
One-third of the Odysight.ai COO’s options vest on the first anniversary of the grant date. The remaining two-thirds vest over the next two years in eight equal quarterly installments, assuming continuous service with the company throughout the vesting period.
Is there accelerated vesting for Odysight.ai COO options on change of control?
Yes. The stock options granted to Odysight.ai’s COO are subject to acceleration of vesting if there is a change of control of the company, potentially allowing earlier full or partial vesting upon such a corporate transaction.
Under which plan were the Odysight.ai COO options granted?
The options for Odysight.ai’s COO were granted under the company’s 2024 Stock Incentive Plan. This plan governs the terms of equity awards such as stock options, including eligibility, vesting conditions, and general administrative provisions.