other material
confidence high
sentiment neutral
materiality 0.70
Milestone Scientific reprices CEO & SVP options and proposes PRSU plan with up to 17.2M shares
MILESTONE SCIENTIFIC INC.
- CEO Eric Hines and SVP Jason Papes surrender options at $0.46-$0.50 for new options at $0.31 exercise price.
- New options vest 500K shares immediately (accelerated from 200K) and 750K on each of next two anniversaries.
- PRSU sub-plan subject to stockholder approval; aggregate pool of 17,234,635 shares if all five milestones met.
- PRSU grants of 5.17M shares to Hines and 3.02M each to Harcum and Papes (total 11.2M shares).
- Performance milestones: LTM net sales >$11M/$13M/$15M, market cap >$50M, qualified acquisition with >$10M revenue.