NEWS!!!!! Namaste provides CORPORATE UPDATE!!!! Corporate Re-Positioning:
In furtherance of the Company’s evolution to wellness announced in February 2021, the Company looks forward to launching soon the re-positioning of its corporate identity as first disclosed in September 2020. Stay tuned!
RSU Grant:
The Compensation Committee of the Company has reviewed and discussed certain changes to its non-employee director compensation given (i) the approval of Shareholders to the adoption of a deferred share unit plan (the “DSU Plan”) and restricted share unit award plan (the “RSU Plan”) at the Corporation’s last Annual General Meeting held on Tuesday, September 29, 2020 and (ii) receipt of recommendations of independent industry experts to best determine the overall remuneration package for non-employee directors, in order to stay competitive in the marketplace and to attract and retain top-tier directors. To that end the Compensation Committee considered long term incentive program benchmarks, including option and RSU grants, as established from peer companies with comparable market capitalization, operating not only within the cannabis sector, but in similar and adjacent sectors, and compared those those against historical grants and standards.
On the basis of Compensation Committee recommendations, the Board of Directors of the Company (the “Board”) has thereby approved appropriate changes to the non-employee director compensation plan, including rebalancing non-employee director compensation such that approximately 43% of non-employee director baseline compensation (before chair and committee fees) is provided in the form of awards, instead of cash subject to the DSU Plan and/or RSU Plan, re-affirming the Board’s commitment to the future success of the Company.
Connected thereto the Board has approved the grant of 1,612,500 vested restricted share units in aggregate to the Company’s four non-employee directors and the Company is thereby reserving 1,612,500 common shares for issuance in connection therewith, all in accordance with the rules of the TSX Venture Exchange and the Company’s RSU Plan.
https://financialpost.com/globe-newswire/namaste-technologies-provides-corporate-update-3