Business
OverActive Media Announces Mailing of Management Information Circular, Option/RSU Exchange and Stock Option Grants
OverActive Media Announces Mailing of Management Information Circular, Option/RSU Exchange and St...
About this update from Overactive Media Corp
[{"type":"text","content":"\n \n \n \n OverActive Media Announces Mailing of Management Information Circular, Option/RSU Exchange and Stock Option Grants\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 2, 2023\n \n \n /CNW/ - OverActive Media (TSXV: OAM) (OTCQB: OAMCF) (\"OverActive\" or the \"Company\"), a global sports, media and entertainment company for today's generation of fans, announced today that it has mailed to shareholders the management information circular for its annual and special meeting of shareholders to be held virtually on\n \n June 27, 2023\n \n at\n \n 10:00 a.m.\n \n (\n \n Toronto\n \n time).\n \n \n At the meeting, among other things, shareholders will be asked to approve the participation of certain insiders of the Company in a proposed stock option/restricted share unit (\"RSU\") exchange program.\n \n \n Under the option/RSU exchange, holders of outstanding stock options (other than directors of the Company) will be offered the opportunity to exchange their stock options for newly issued RSUs. The number of RSUs to be issued will be determined based on the fair value of the exchanged options (which will be determined by the Company using the Black-Scholes-Merton formula) and the most recent closing price of the Company's common shares on the TSX Venture (\"TSXV\") on the exchange date. Any RSUs issued pursuant to the option/RSU exchange will be issued in accordance with the terms of the Company's 2022 Omnibus Equity Incentive Plan. The Company currently anticipates that the option/RSU exchange will be completed in\n \n September 2023\n \n , following the filing of its financial statements for the three and six months ended\n \n June 30, 2023\n \n .\n \n \n The option/RSU exchange was recommended by the Human Resource Compensation and Governance Committee of the Company's board of directors (the \"Compensation Committee\") following a comprehensive review of the competitiveness and retention value of the Company's executive compensation arrangements, including its approach to equity incentive...