NOVA LIFESTYLE, INC. (NASDAQ:NVFY) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 22, 2018, Nova Life>
The foregoing description of the Agreement is only a summary of the terms of the Agreement and does not purport to be a complete description of such document, and is qualified in its entirety by reference to the Agreement, a copy of which is attached as an exhibit hereto and which is incorporated by reference into this Item 5.02.
On August 24, 2018 (the “Grant Date”), the Compensation Committee of the Board of Directors (the “Board”) of Company approved an option grant to Jeffery Chuang to purchase 35,000 shares of the Company’s common stock, par value $0.001 (the “Common Stock”), to the Company’s 2014 Omnibus Long-Term Incentive Plan (the “Option Grant”). One half of the shares subject to the Option Grant vested immediately, and the remaining one-half of the shares subject to the Option Grant will vest on the six-month anniversary of the Grant Date. The Option Grant has an exercise price of $1.85 per share, cashless exercise rights and a term of 5 years from the Grant Date.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
# Indicates management contract or compensatory plan, contract or arrangement.
Nova Lifestyle, Inc. ExhibitEX-10.1 2 ex_122980.htm EXHIBIT 10.1 ex_122980.htm Exhibit 10.1 EMPLOYMENT AGREEMENT This EMPLOYMENT AGREEMENT (the “Agreement”) is made and entered into as of this 22nd day of August,…To view the full exhibit click here
About NOVA LIFESTYLE, INC. (NASDAQ:NVFY)
Nova LifeStyle, Inc. is a manufacturer of contemporary styled residential furniture incorporated into a marketing and sales platform offering retail, as well as online selection. The Company operates through the design, manufacture and sale of furniture segment. The Company monitors trending and work to create design elements that are then integrated into its product lines that can be used as standalone, as well as whole room and home furnishing solutions. Through its global network, the Company also sells (through a third-party manufacturing partner) a range of bedding foundation components. Its LifeStyle brand family includes Diamond Sofa (www.diamondsofa.com), Colorful World, Giorgio Mobili and Bright Swallow International Group Limited (Bright Swallow). The Company’s customers principally consist of distributors and retailers having a specific geographic coverage that deploy middle to high-end private label home furnishings.
