Business
Lomiko Metals Announces Omnibus Plan Share Unit and Stock Option Grants and Corporate Update
MONTREAL / Feb 24, 2023 / Business Wire / Lomiko Metals Inc. (TSX.V: LMR) (the “Company” or “Lomiko”) is announcing the grant of stock options to management and
About this update from Lomiko Metals Inc.
[{"type":"text","content":"MONTREAL / Feb 24, 2023 / Business Wire / Lomiko Metals Inc. (TSX.V: LMR) (the “Company” or “Lomiko”) is announcing the grant of stock options to management and advisors as part of a long-term incentive program as determined by the Board, and RSUs and deferred share units (“DSUs”) to the Board in accordance with the Company’s 2022 Omnibus Equity Incentive Plan adopted at the Annual General Meeting (“AGM”). Grants under the 2022 Omnibus Equity Incentive Plan On the recommendation of the Compensation, Corporate Governance and Nominating Committee (“CCGNC”), the Board has approved the grant of 3,000,000 RSUs, and 4,000,000 DSUs to directors of the Company. Management and advisors of the Company have been granted 10,940,000 stock options. The 2022 Omnibus Equity Incentive Plan’s objective is to create an incentive compensation program that is aligned with the Company’s long-term objectives. Stock options, DSUs, RSUs and PSUs are granted in accordance with Policy 4.4 – Security Based Compensation of the TSX Venture Exchange (the “Exchange”) and the terms and conditions of the 2022 Omnibus Equity Incentive Plan. RSUs: Each vested RSU can be redeemed for one fully paid and non-assessable common share of Lomiko issued from treasury. RSUs are vested by February 24, 2024. The number of RSUs granted was calculated based on the compensation to be paid to the director, as recommended by CCGNC and approved by the Board, and was calculated using a price of $0.05 per common share. DSUs: Each vested DSU can be redeemed for one fully paid and non-assessable common share of Lomiko issued from treasury. For directors, the DSUs granted vest on February 24, 2024, and are settled on a director’s retirement from the board. The number of DSUs granted was calculated based on the compensation to be paid to the director, as recommended by CCGNC and approved by the Board, and was calculated using a price of $0.05 per common share. Stock options: Stock options to management and advisors were granted with a 5-year term in accordance with the following vesting schedule: 1/3 of the stock options vesting one year following the grant date; 1/3 of the stock options vesting the two years following the grant date and the remaining 1/3 of the options vesting three years following the grant date. The exercise price is $0.05 per common share. Participation at the PDAC ...