Wytec (WYTC) extends CEO and executive stock warrants through 2026
Rhea-AI Filing Summary
Wytec International, Inc. reported that its board approved extensions of two existing stock purchase warrants held by senior executives as a form of compensation for their contributions during the 2025 fiscal year. The warrant held by chief executive officer and president William H. Gray, allowing him to purchase up to 2,000,000 shares of common stock, had its expiration date moved from December 31, 2025 to December 31, 2026. A smaller warrant held by director of operations and corporate secretary Erica Perez, covering up to 25,000 shares of common stock, was also extended on the same terms, with the expiration date similarly pushed from December 31, 2025 to December 31, 2026. These actions do not create new warrants but give the existing holders more time to exercise their current rights.
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FAQ
What compensation changes did Wytec International (WYTC) disclose in this 8-K?
Wytec International disclosed that its board extended the expiration dates of two existing stock purchase warrants held by executives, treating the extensions as compensation for their contributions during the 2025 fiscal year.
Which Wytec (WYTC) executive received a warrant extension and for how many shares?
Chief executive officer and president William H. Gray received an extension of the expiration date on his warrant to purchase up to 2,000,000 shares of Wytec common stock, moving the expiration from December 31, 2025 to December 31, 2026.
What are the terms of the warrant extension for Wytec executive Erica Perez?
Erica Perez, Wytec's director of operations and corporate secretary, received an extension of her warrant to purchase up to 25,000 shares of common stock, with the expiration date changed from December 31, 2025 to December 31, 2026.
Do the Wytec (WYTC) warrant changes create new equity awards?
No. The board extended the expiration dates of currently outstanding warrants; it did not report issuing new warrants. The changes give the existing holders more time to exercise their current rights.
Where can investors find the detailed terms of the amended Wytec warrants?
The detailed terms of the amended warrants are provided in the exhibits: Amendment to Warrant No. 336 is filed as Exhibit 4.1 and Amendment to Warrant No. 551 is filed as Exhibit 4.2.
Why did Wytec International extend these executive warrants?
The company stated that the extensions were made in consideration for the contributions of William H. Gray and Erica Perez to Wytec International during the 2025 fiscal year.