ESOPJul 14, 2026, 04:02 PM
Oncotelic Therapeutics Grants 17,796 RSUs to Key Personnel
AI Summary
Oncotelic Therapeutics, Inc. approved the grant of 17,796 Restricted Stock Units (RSUs) to its directors, officers, employees, and advisors. Each RSU represents the right to receive one share of Series A Convertible Preferred Stock, convertible into 1,000 shares of Common Stock. Vesting is conditional upon the company's common stock uplisting to a national stock exchange by June 30, 2027, and the recipient's continued service for six months post-uplisting.
Key Highlights
- Oncotelic Therapeutics granted a total of 17,796 Restricted Stock Units (RSUs).
- RSUs were awarded to the company's directors, officers, employees, and advisors.
- Each RSU represents the contingent right to receive one share of Series A Convertible Preferred Stock.
- Each share of Preferred Stock is convertible into 1,000 shares of Common Stock.
- Vesting is contingent on the common stock uplisting to a national exchange by June 30, 2027.
- Recipients must remain in service for six months after uplisting for RSUs to vest.
- CEO Vuong Trieu received 2,000 RSUs, and CFO Amit Shah received 1,500 RSUs.
- The RSU issuance is exempt from registration under Section 4(a)(2) of the Securities Act.
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