LOOP INDUSTRIES, INC. (OTCMKTS:LLPP) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 14, 2018, the board of directors (the “Board”) of Loop Industries, Inc., a Nevada corporation (the “Company”), elected Sidney M. Horn as a member of the Board.
In connection with his election, Mr. Horn was granted 10,205 restricted stock units under the Company’s 2017 Equity Incentive Plan (the “Plan”), representing a pro-rated portion of the Company’s standard non-executive director annual equity grant under the Company’s Second Amended and Restated Outside Director Compensation Policy (the “Compensation Policy”). This award will fully vest on June 28, 2019, subject to continued service through the vesting date.
Mr. Horn also executed the Company’s standard form of indemnification agreement, a copy of which has been previously filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 30, 2017 and is incorporated herein by reference.
There is no arrangement or understanding between Mr. Horn and any other person to which Mr. Horn was selected as a director of the Company. Mr. Horn is also not a party to any transaction that would require disclosure under Item 404(a) of Regulation S-K.
Item 7.01. Regulation FD Disclosure.
On December 17, 2018, the Company issued a press release announcing the election of Mr. Horn. A copy of this press release is furnished hereto as Exhibit99.1.
The information in this Item 7.01 and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
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*Incorporated by reference to Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on June 30, 2017.
Loop Industries, Inc. Exhibit
EX-99.1 2 loop_ex991.htm PRESS RELEASE doc_ex991.htmEXHIBIT 99.1 LOOP INDUSTRIES APPOINTS SIDNEY HORN TO BOARD OF DIRECTORS Montreal,…
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About LOOP INDUSTRIES, INC. (OTCMKTS:LLPP)
Loop Industries, Inc., formerly First American Group Inc., is a manufacturer of Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG), the chemical components used in manufacturing polyethylene terephthalate (PET). The Company is engaged in designing, prototyping and building a closed loop plastics recycling business using a de-polymerization technology. Its technology uses waste PET plastics, such as water bottles, soda bottles, consumer packaging, carpets and industrial waste as feedstock to process. These feedstocks are available through municipal triage centers, industrial recycling and landfill reclamation projects. The Company operates in the United States and Canada. The Company focuses on depolymerizing waste plastics and converts them into valuable chemicals, ready to be reintroduced into the manufacturing of virgin plastics.
