AQUA METALS, INC. (NASDAQ:AQMS) 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 July 31, 2017, we filed a Current Report on Form 8-K (“Original Report”) to report our appointment of Mark Weinswig to serve as our Chief Financial Officer. We are filing this amendment to the Original Report for purposes of correcting the description contained therein of our grant of restricted stock units, or RSUs, to Mr. Weinswig.
In connection with our appointment of Mr. Weinswig to serve as our Chief Financial Officer, we granted Mr. Weinswig 49,751 RSUs under our Amended and Restated 2014 Stock Incentive Plan. Each RSU entitles Mr. Weinswig to receive, for no consideration, one share of our common stock subject to the vesting of the RSU. The RSUs will vest in three equal installments over a three-year period commencing one year from the date of grant. The RSUs are subject to the terms and conditions of our Amended and Restated 2014 Stock Incentive Plan. In the Original Report, we had incorrectly stated that we had granted Mr. Weinswig 16,584 RSUs.
About AQUA METALS, INC. (NASDAQ:AQMS)
Aqua Metals, Inc. is engaged in the business of recycling lead through a process that the Company developed and named AquaRefining. AquaRefining process will provide for the recycling of lead acid batteries (LABs) and the production of lead. AquaRefining is a water-based ambient temperature process. The modular nature of AquaRefining makes it possible to start LAB recycling at a smaller scale than is possible with smelters. Its AquaRefining process begins with the crushing of used LABs and the separation of the metallic lead, active material (lead compounds), sulfuric acid and plastic for recycling. The active material is dissolved in its solvent. The primary lead is then stripped from the solvent using its automated process allowing the solvent to be reused continuously and indefinitely. Its AquaRefining process generates over three outputs, such as lead; cleaned plastic chips, recovered from battery casings, and sulfuric acid. The Company has not generated revenues.