secwatch.observer — SEC 8-K summary
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Issuer:     Glimpse Group, Inc. (GGRP)
CIK:        0001854445
Form:       8-K
Filed at:   2023-02-16T23:59:59+00:00
Accession:  0001493152-23-005278
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glimpse Group grants 2.2M performance-vesting stock options to CEO, CFO, and COO
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- Options exercise price $7.00/share, expire Feb 15, 2033; 4-yr time vesting plus revenue and stock-price milestones.
- CEO Lyron Bentovim receives 1,210,000 options; CFO/COO Maydan Rothblum receives 770,000; David John Smith receives 220,000.
- Revenue targets: $30M, $50M, $75M, $100M over rolling 4 quarters within 7 years; stock price targets: $20, $30, $45, $60 for 15 consecutive trading days.
- Initial tranche (10% of grant) vests quarterly over 4 years; target tranches vest proportionally upon milestone achievement with remaining half over 2 years.
- All unvested options accelerate fully upon a change of control; target options also accelerate upon termination without cause.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1854445/000149315223005278/0001493152-23-005278-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1854445/000149315223005278/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-005278

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer