eGain CORPORATION (NASDAQ:EGAN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

eGain CORPORATION (NASDAQ:EGAN) 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.

Story continues below

(e)Compensatory Arrangement of Certain Officers.

On September19, 2017 the Board of Directors (the “Board”) of eGain Corporation (the “Company”) granted options to purchase common stock to certain executive officers of the Company. Each such option has an exercise price of $2.50 per share, the closing price of the Company’s common stock on the Nasdaq Stock Market on the date of grant, and vests in equalmonthly increments over 48months from September1, 2017, subject to continued service. Such option grants are set forth below:

Name, Title

Shares Subject to Option

Ashutosh Roy, Chief Executive Officer

200,000

Eric Smit, Chief Financial Officer

112,000

Promo Narong, Senior Vice President of Products

112,000

Item 5.02. Other Events

On September19, 2017 the Board approved cash and equity compensation for non-employee directors, with effect from September1, 2017, as set forth below:

·

An annual fee of $50,000 in cash payable quarterly (such cash fee was already being paid to the Company’s most recently appointed directors, Brett Shockley and Christine Russell and it was extended to the Company’s other non-employee directors, Gunjan Sinha and Phiroz P. Darukhanavala, with effect from September1, 2017);

·

An additional annual fee of $10,000 payable quarterly to Mr.Shockley for service as the Lead Independent Director, with effect from September1, 2017;

·

The grant of options to purchase common stock. Each option was granted at an exercise price of $2.50 per share, the closing price of the Company’s common stock on the Nasdaq Stock Market on the date of grant, and vests in equalmonthly increments over 48months from September1, 2017, subject to continued service. Such option grants are set forth below:

Non-employee Director

Shares Subject to Option

Gunjan Sinha

70,000

Phiroz P. Darukhanavala

70,000

Christine Russell

26,250

Brett Shockley

62,291

The grants to Ms.Russell and to Mr.Shockley reflect the number of option shares determined by subtracting from 70,000 the number of shares remaining unvested in such director’s original option grant from the Company and, in the case of Mr.Shockley only, an additional 10,000 option shares granted for his service as Lead Independent Director.


About eGain CORPORATION (NASDAQ:EGAN)

eGain Corporation (eGain) provides cloud-based and on-site customer engagement software solutions. The Company optimizes service processes across the Web, social and phone channels. The Company’s solutions help business to consumer (B2C) businesses to operationalize digital customer engagement strategies. The Company is engaged in the development, license, implementation and support of customer service infrastructure software solutions. The Company offers eGain solution, which is designed for B2C businesses to do business with their customers. The Company offers eGain OpenCEH, which is an engagement hub platform. The eGain suite includes Mobile applications; Social applications; Web applications; Desktop applications; Management applications and analytics; Messaging applications; eGain OpenCEH, and eGain Connectors. It provides analytics capability to various contact centers for intra-day resource measurement and management, managing operational agility, and agent productivity.

An ad to help with our costs