The Only New Items in Today's News....Repeating the other fluff from before was only meant to dilute the news about more dilution.
Restricted Share Unit Awards (“RSUs”) and Option Awards
The Lifeist board of directors (“Board”) after market close yesterday, granted an aggregate of 2,084,210 RSUs in favour of two non-employee directors and 468,421 RSUs to a former non-employee director that resigned in July 2022, thereby reserving 2,552,631 commons shares for issuance in connection therewith, in accordance with the rules of the TSX Venture Exchange and the Company’s Restricted Share Unit Plan adopted by the shareholders at the Company’s 2020 AGM. Three quarters of the RSUs granted (an aggregate of 1,563,157 RSUs) to the two non-employee directors vest immediately, with the remaining quarter of the RSUs granted to such individuals vesting on November 30, 2022. All RSUs issued to the former non-employee director vest immediately.
Non-cash awards (RSUs and deferred share units ("DSUs")) constitute 65% of the baseline compensation paid to non-employee directors of the Company. One non-employee director previously elected receipt of FY2022 non-cash baseline compensation in the form of DSUs. To that end, and in connection with services rendered for calendar quarter Q2 2022, the Company has issued 495,000 DSUs to such director. In accordance with the Company’s Deferred Share Unit Plan, the DSUs are priced based on June 30, 2022 closing price of the Company’s common shares on the TSX Venture Exchange. DSUs align the interests of Company directors with shareholders as DSUs vest immediately but may not be exercised until a director ceases to serve on the Board.
Furthermore, the Board has approved, the grant of 1,000,000 stock options to the CFO of the Company, which are exercisable into common shares of the Company at a price of $0.095 per common share, in accordance with the rules of the TSX Venture Exchange and the Company’s Stock Option Plan. The stock options granted have a term of two years, two-thirds vesting immediately and one-third vesting in equal two tranches at six months and 12 months from the grant date, and expire on September 14, 2024.