HERITAGE GLOBAL INC. (NYSE:BRK.A) 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 |
On December 9, 2016, Heritage Global Inc. (the Company) issued
option awards under the Heritage Global Inc. 2016 Stock Option
Plan (the 2016 Plan) and the Heritage Global Inc. 2010
Non-Qualified Stock Option Plan (the 2010 Plan) to certain
employees, including its named executive officers.
The 2016 Plan was previously approved by a vote at the special
meeting of stockholders (the Special Meeting) held on September
14, 2016.Further information about the 2016 Plan can be found in
the Companys definitive proxy statement in connection with the
Special Meeting filed with the Securities and Exchange Commission
(the SEC) on August 5, 2016.The 2016 Plan was registered on Form
S-8 filed with the SEC on November 7, 2016.
The option awards vest ratably over a four-year period, with 25%
of the option shares vesting on each anniversary of the initial
grant date.The option awards expire 10 years after the initial
grant date.
The table below summarizes the option awards issued to the
Companys named executive officers:
|
Name of Officer |
Title |
Stock Option Plan |
Option to Purchase Shares |
Strike Price |
||
|
Ross Dove |
Chief Executive Officer |
2010 Plan |
325,000 |
$ |
0.45 |
|
|
Kirk Dove |
President and Chief Operating Officer |
2016 Plan |
325,000 |
$ |
0.45 |
|
|
Scott A. West |
Chief Financial Officer |
2016 Plan |
180,000 |
$ |
0.45 |
|
|
James E. Sklar |
Executive Vice President, General Counsel and Secretary |
2016 Plan |
180,000 |
$ |
0.45 |
|
|
Kenneth Mann |
Senior Managing Director of Equity Partners |
2016 Plan |
300,000 |
$ |
0.45 |
|
|
David Ludwig |
President of NLEX |
2010 Plan |
200,000 |
$ |
0.45 |
|
About HERITAGE GLOBAL INC. (NYSE:BRK.A)
Berkshire Hathaway Inc. is a holding company owning subsidiaries engaged in various business activities. The Company conducts insurance businesses on both a primary basis and a reinsurance basis, a freight rail transportation business and a group of utility and energy generation and distribution businesses. Its segments include GEICO, General Re Corporation (General Re), Berkshire Hathaway Reinsurance Group (BHRG), Berkshire Hathaway Primary Group, Burlington Northern Santa Fe, LLC (BNSF), Berkshire Hathaway Energy, Manufacturing, McLane Company, Service and retailing, and Finance and financial products. Its insurance and reinsurance business activities are conducted through various domestic and foreign-based insurance entities. Its insurance businesses provide insurance and reinsurance of property and casualty risks, and also reinsure life, accident and health risks across the world. HERITAGE GLOBAL INC. (NYSE:BRK.A) Recent Trading Information
HERITAGE GLOBAL INC. (NYSE:BRK.A) closed its last trading session down -2,661.00 at 247,050.00 with 298 shares trading hands.
