3PEA INTERNATIONAL, INC. (NASDAQ:TPNL) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02 Unregistered Sales of Equity Securities.
(a) On November 11, 2016 the company granted five million shares of common stock with the value of $787,950 to the Company’s Officers and Directors. The grants vest in equal amounts over a five year period at the end of each calendar quarter if the officer or director still is employed or serves as a director at that time. The shares will be issued to the exemption from registration to Section 4(a)(2) of the Securities Act of 1933.
Section 5 – Corporate Governance and Management
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On November 11, 2016 the company granted five million shares of common stock with the value of $787,950 to the Company’s Officers and Directors. The grants vest in equal amounts over a five year period at the end of each calendar quarter if the officer or director still is employed or serves as a director at that time.
About 3PEA INTERNATIONAL, INC. (NASDAQ:TPNL)