OWC Pharmaceutical Research Corp (OWCP)

[MIKE2OO5]

The vesting period is the time that an employee must wait in order to be able to exercise ESOs. Exercise of ESOs, where the optionee notifies the company that he or she would like to buy the stock, allows the optionee to buy the referenced shares at the strike price indicated in the ESO options agreement.


https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12148644
Explanation of Responses:
(1) On December 15, 2016, the Company granted Mr. Baruch 7,000,000 options under its 2016 ESOP. These options are exercisable at $0.05 and are subject to the provisions of the applicable Israeli law. The options are held by a trustee and vest over a period of two years. They may not be exercised within the first two years after the date of grant. Nevertheless, these options vest 1/3 on the day of grant and 8.33% vest on a quarterly basis thereafter.