Eurosite Power Inc (EUSP)

[AskMuncher]

$EUSP EuroSite Power Board Consent to Amendment and Restatement of the Company’s 2011 Stock Incentive Plan and adoption of a new UK Sub-Plan
Press Release | 06/18/2020


EuroSite Power Inc. (OTCPK: EUSP, the "Company") an On-Site Utility solutions provider, offering clean electricity, heat, hot water and cooling solutions to healthcare, hospitality, housing and leisure centers in the United Kingdom (UK) and Europe, today announced that following Unanimous Written Consent ("UWC") of the Board of Directors of the Company it will, in accordance with the laws of the State of Delaware, the Bylaws of EuroSite Power Inc. and Section 15 of the its 2011 Stock Incentive Plan ("Plan"), present an amendment and restatement of the Plan together with the adoption of a new UK sub-plan to the Plan to stockholders of the Company for approval by written consent. Consent will also be sought for a proposed 3,234,944 increase to the number of shares authorized for the grant under the Plan, revising the total shares authorised for grant under the Plan to 7,734,944.



The UWC adopted by the board also approved a repricing of the per share exercise price of existing grants to match the closing price for the common stock on June 12, 2020 and extension of the original option term to June 3, 2026.