Inc. (NASDAQ:INCR) Files An 8-K Unregistered Sales of Equity Securities
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure provided in Part B of Item 1.01 of this Report is hereby incorporated by reference into this Item 3.02.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
A. On August 28, 2020, the Compensation Committee (the “Committee”) of the Board of Directors of Net Element, Inc. (the “Company”), as part of the 2019 incentive compensation, approved and authorized grants of the following equity awards to the Company’s 2013 Equity Incentive Compensation Plan, as amended (the “Plan”):
B. In addition, on August 28, 2020, the Committee, as part of the 2019 incentive compensation, approved and authorized grants of the following equity awards outside of the Plan and subject to and contingent upon the Company shareholders’ approval for purposes of compliance with the Nasdaq Rule 5635(c):
Such restricted shares common stock of the Company will be not issued and will be deemed forfeited if such shareholders’ approval is not obtained until March 31, 2021.
If such shareholders’ approval is obtained until March 31, 2021, such restricted shares of common stock of the Company would be issuable to each of Mr. Firer, Mr. Wolberg and Mr. Ginsberg under an exemption from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), in reliance upon Section 4(a)(2) of the Securities Act.
About Inc. (NASDAQ:INCR)
INC Research Holdings, Inc. is a global contract research organization (CRO). The Company is focused on Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. The Company operates through two segments: Clinical Development Services and Phase I Services. The Company’s Clinical Development Services segment offers all clinical development services, including full-service global studies, as well as ancillary services, such as clinical monitoring, investigator recruitment, patient recruitment, data management, study reports to assist customers with their drug development process, quality assurance audits and specialized consulting services. The Company’s Phase I Services segment focuses on clinical development services for Phase I trials, which include scientific exploratory medicine, first-in-human studies through proof-of-concept stages and support for Phase I studies in established compounds.