secwatch.observer — SEC 8-K summary
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Issuer:     Omnitek Engineering Corp (OMTK)
CIK:        0001404804
Form:       8-K
Filed at:   2024-05-09T23:59:59+00:00
Accession:  0001096906-24-001071
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Omnitek renews CEO employment for 3 years; grants 300,000 stock options to CEO and 50,000 each to two directors
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- Renewed employment agreement with Werner Funk as President/CEO for 3-year term through May 3, 2027, with $150,000 annual base salary.
- Granted CEO option to purchase 300,000 shares at $0.015 (110% of May 3 close), vesting 1/36 monthly over 3 years, exercisable for 7 years.
- On April 25, 2024, granted independent directors Gary S. Maier and John M. Palumbo each options for 50,000 shares at $0.0160, immediately vested, 7-year term.
- Also on April 25, granted CEO Funk (as director) option for 50,000 shares at $0.0176 (110% of close), immediately vested, 7-year term.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1404804/000109690624001071/0001096906-24-001071-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1404804/000109690624001071/omtk-20240425.htm
  HTML page:      https://secwatch.observer/filing/0001096906-24-001071

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