INTELLINETICS, INC. (OTCMKTS:INLX) 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
On September 2, 2020, Intellinetics, Inc. (the “Company”) awarded the following grants of incentive stock options to certain executive officers of the Company, with an exercise price equal to $4.00:
| Name | Title | Incentive Stock Option Grant | |
| James F. DeSocio | President and Chief Executive Officer | 25,000 | |
| Matthew L. Chretien | Secretary and Chief Strategy Officer | 20,000 | |
| Joseph D. Spain | Treasurer and Chief Financial Officer | 20,000 | |
All of the options are subject to annual vesting over a 4-year period ending on September 1, 2024. In addition to the time-based vesting, 50% of the options are subject to performance-based vesting.
