NU Ride Inc (NRDE)

[Saving Grace]

They Bought undisclosed amount, allowed to acquire. The board already gets $12,000 cash per quarter and can do whatever they want with it. Read the filing. SMH

Following a review by, and upon the recommendation of, the Compenation Committee of the Board of Directors (the “Board”) of Nu Ride Inc. (the
“Company”), on May 13, 2024, the Board adopted a modified director compensation plan that includes the payment of cash and equity consideration to outside
directors for service on the Board. Accordingly, each director will receive (i) a quarterly cash stipend of $12,000, which will be paid in advance on or about the
first day of each calendar quarter, and (ii) a three-year grant under the Company's 2020 Equity Compensation Plan of restricted stock units (“RSUs”) with a fair
market value of $8,000 per quarter ($96,000 in the aggregate), based on the closing price per share of the Company’s common stock on May 13, 2024. The
RSUs granted cover service on the Board through the first quarter of 2027 and vest quarterly through January 30, 2027, subject to acceleration on the
occurrence of certain events. The amount of quarterly director compensation of $12,000 cash and $8,000 equity remains the same as previously approved by
the Board and disclosed in the Company’s Form 8-K filed on March 15, 2024, but the cash portion will be paid in advance rather than in arrears and the equity
portion consists of a single grant of RSUs for up to twelve quarters of service rather than as quarterly issuances of shares of common stock