Business
E3 Lithium Announces Equity Awards Grant and Re-Pricing of Stock Options
E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3”, “E3 Lithium...
About this update from E3 Lithium Ltd
[{"type":"text","content":"E3 Lithium Announces Equity Awards Grant and Re-Pricing of Stock Options\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdecimal { list-style-type: decimal }\n.bwuline { text-decoration: underline }\n \n\n\n\n E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), “E3”, “E3 Lithium” or the “Company,” a leader in Canadian lithium, outlines its 2024 and 2025 compensation programs. The Company had a significant and successful 2024 with many major company milestones achieved. In light of excellent work by the team at E3, who are fundamental to that success, the Board of Directors has approved issuing RSUs and repricing options to provide compensation for that effort, which aligns with the Company’s goals to protect E3’s balance sheet.\n \n\n All non-executive staff’s current and non-exercised stock options have been re-priced. An aggregate total of 2,108,000 stock options (the “Options”) to purchase common shares (“Option Shares”) which are currently exercisable at prices ranging from $1.10 to $2.75 per Option Share, whereby the exercise price of such Options has been repriced to $0.81 per Option Share (the “Re-Pricing”). All other terms within the Options will remain the same. The Re-Pricing does not include stock options previously granted to directors and officers of the Company (the “Insiders”).\n \n\n Insiders have been issued a total of 786,000 stock options (the “New Options”) to purchase common shares at an exercise price of $0.81 per share under its omnibus equity incentive plan (the “Plan”) with an expiry of 5 years from date of grant. The New Options vest one-quarter immediately and one quarter on each anniversary from the date of grant.\n \n\n The Company has also granted 300,000 restricted share units (the “RSUs”) to certain directors, officers and employees of the Company under the Plan.\n \n\n In an effort to be more transparent to both the E3 staff and the market on the issuance of compensation securities, the Company has defined a set of performance goals that, upon success, the Company will issue Performance Share Units (the “PSUs”) per the Plan. As such, The Board of Directors has approved 509,600 PSUs to staff and...