ITEM 5.02. COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
(e)
On June 9, 2017, the Compensation Committee of the Board of Directors of Uni-Pixel, Inc. (the “Company”) approved by unanimous written consent the issuance of restricted stock units under the Company’s 2011 Stock Incentive Plan, as amended (the “Plan”), to officers of the Company for services to be provided over the next 3 years, with such restricted stock units to vest in twelve quarterly installments beginning on August 1, 2017 and ending on May 1, 2020, and for the Company to withhold shares of the stock subject to the restricted stock units at the time of vesting for the purpose of satisfying any tax withholding obligations which arise in connection with such vesting. The awards include grants to the following executives in the following amounts:
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Jeff A. Hawthorne – 250,000 restricted stock units |
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Christine Russell – 300,000 restricted stock units |
The restricted stock units were issued using the form of Restricted Stock Unit Notice of Grant and Agreement previously filed by the Company as Exhibit 10.1 to its Current Report on Form 8-K as filed with the SEC on June 10, 2016 and the above summary of the terms of these restricted stock units is qualified in its entirety by reference to such form.
