Business
Logiq Issues Update on Employee Equity Incentive Plan Transactions
Logiq Issues Update on Employee Equity Incentive Plan Transactions.
About this update from Logiq Inc.
[{"type":"text","content":"\n NEW YORK, Oct. 25, 2021 (GLOBE NEWSWIRE) -- Logiq, Inc. (OTCQX: LGIQ, NEO: LGIQ), a global provider of award-winning consumer acquisition solutions, provided an update on recent employee stock transactions which were reported on Form 4 to the U.S. Securities and Exchange Commission on Friday, October 22, 2021. As reported in respective Form 4s, Logiq CEO Tom Furukawa forfeited 16,666 shares and COO Steven Hartman forfeited 5,764 shares to satisfy the payment of withholding tax liability which incurred upon the vesting of the restricted stock units. An online business news publisher, Newsfilter, erroneously reported that these shares were sold. However, as forfeited shares, they were not sold but were canceled and returned to the company’s treasury. This was the first instances of a recently announced updated employee equity incentive plan which allows the option of forfeiting shares to satisfy tax withholding obligations rather than by selling shares. Excluding the sale in September by the plan administrator to satisfy a withholding tax liability, no insider has sold any of their Logiq shares since 2015. The company earlier reported on a Form 4 that the company’s president, Brent Suen, purchased 24,000 shares of Logiq common stock from the open market at an average price of $3.21 per share. About LogiqLogiq Inc. is a U.S.-based leading global provider of e-commerce and fintech business enablement and customer acquisition solutions. Its DataLogiq business provides a data-driven, end-to-end e-commerce marketing solution. Its AI-powered LogiqX™ data engine delivers valuable consumer insights that enhance the ROI of online marketing spend. The company’s Fixel technology offers simplified online marketing with critical privacy features. In its AppLogiq business, Logiq’s platform-as-a-service, branded as CreateApp™, enables small- and medium-sized businesses worldwide to easily create and deploy a native mobile app for their business without technical knowledge or background. CreateApp™ empowers businesses to reach more customers, increase sales, manage logistics, and promote their products and services in an easy, affordable, and highly efficient way. CreateApp™ is offered in 14 languages across 10 countries and three continents, including some of the fastest-growing emerging ma...