Corporate ActionOct 13, 2026, 08:54 AM
OceanPal Inc. Amends 2021 Equity Incentive Plan; 564,000 Shares Available
AI Summary
OceanPal Inc. has amended and restated its 2021 Equity Incentive Plan, effective November 8, 2021, and further amended on October 7, 2026. The plan aims to incentivize key personnel by offering equity-based awards to align their interests with the company's long-term performance. The aggregate number of shares available under the plan has been set at 564,000, adjusted for previous reverse stock splits. The plan permits various award types, including stock options, stock appreciation rights, restricted stock, and restricted stock units, administered by the Compensation Committee.
Key Highlights
- OceanPal Inc. amends and restates its 2021 Equity Incentive Plan.
- The plan is designed to provide incentives to Key Persons to acquire a proprietary interest in the company's success.
- Maximum aggregate of 564,000 shares of Common Stock may be delivered under the Plan.
- The share reserve reflects a one-for-twenty-five reverse stock split effective August 25, 2025, and a one-for-twenty reverse stock split effective March 30, 2026.
- The plan allows for various award types including stock options, stock appreciation rights, restricted stock, and restricted stock units.
Price Impact
More from SVRN