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

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.

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