ESOPMay 22, 2026, 05:02 PM
Everspin Stockholders Approve Amended 2016 Equity Plan with 1.8M New Shares
AI Summary
Everspin Technologies, Inc. stockholders approved the Amended and Restated 2016 Equity Incentive Plan at its 2026 Annual Meeting, authorizing an additional 1,800,000 shares for issuance. The plan also includes provisions prohibiting the reduction of exercise prices or cancellation of underwater options without prior stockholder approval. Additionally, stockholders elected seven directors, ratified Ernst & Young LLP as the independent auditor for 2026, and approved the advisory vote on executive compensation.
Key Highlights
- Stockholders approved the Amended 2016 Equity Incentive Plan.
- An additional 1,800,000 shares may be issued under the Amended 2016 Plan.
- Maximum incentive stock options are 3x the aggregate shares reserved under the plan.
- Plan prohibits repricing or cancellation of underwater options without stockholder approval.
- Seven directors were elected to serve until the 2027 Annual Meeting.
- Ernst & Young LLP was ratified as the independent auditor for fiscal year 2026.
- The advisory vote to approve named executive officer compensation was approved.
- New compositions for the Audit, Compensation, and Nominating/Corporate Governance Committees were effective.
Price Impact
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