First Responder Technologies Implements Restricted Share Unit Plan for Execs
Monday, April 13, 2020 | Comments

First Responder Technologies, a developer of Wi-Fi-based technologies to detect and deter mass shooting and terror attacks involving concealed weapons, implemented a rolling restricted share unit (RSU) plan and granted 3 million restricted share units pursuant to the plan.

To further align the interests of the company's senior executives, key employees, directors and consultants to those of the shareholders of the company, the board of directors approved the RSU plan. Under the plan, eligible persons may at the discretion of the board, be allocated a number of RSUs as the board deems appropriate, with vesting provisions also to be determined by the board. The maximum number of RSUs that may be granted, when combined with outstanding stock options and other compensation securities, is 20% of the company's issued and outstanding common shares as of the time of grant.

"With the adoption of this new plan, the company has added flexibility to attract and retain leading engineering and commercial talent as the Company executes its business plan," said Robert Delamar, CEO.

The company granted 3 million RSUs to a senior technical/engineering executive of the company, with one-third of the of the RSUs vesting Dec. 31, 2021; one-third vesting Dec. 31, 2022; and one-third vesting Dec. 31, 2023. All of the RSUs will be subject to applicable securities law hold periods.

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