MOBILESMITH, INC. (OTCMKTS:MOST) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
MOBILESMITH, INC. (OTCMKTS:MOST) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On November 21, 2016, the Board of Directors (the “Board”) of MobileSmith, Inc. (the “Company”) approved grants of options under the Company’s 2016 Equity Incentive Plan (the “2016 Plan”) to senior executive officers and non-management employees to purchase a total of 1,500,000 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”).
In all cases, the options granted by the Board have a four-year term and are scheduled to vest on a quarterly basis, in 12 equal quarterly installments at the end of each quarter, beginning with the quarter ending December 31, 2016. The options have an exercise price per share equal to $1.49, which was the closing price per share of the Company’s Common Stock on November 21, 2016, the grant date. The form of Stock Option Award Agreement for the stock option grants is attached as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein by reference.
From the above grants, Amir Elbaz, the Company’s Executive Chairman of the Board received options to purchase 190,0000 shares of the Company’s Common Stock; Bob Dieterle, the Company’s President and Chief Operating Officer, received options to purchase 175,000 shares; Gleb Mikhailov, the Company’s Chief Financial officer, received options to purchase 135,000 shares. The Board also awarded under the 2016 Plan options for 1,000,000 shares of the Company’s Common Stock to non-management employees of the Company.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
10.1 Form of Stock Option Award Agreement
About MOBILESMITH, INC. (OTCMKTS:MOST)
MobileSmith, Inc. develops and markets a software-as-a-service (SaaS) platform that allows non-programmers to design and build native mobile applications for smartphones and tablets. The Company’s product is the MobileSmith Platform (the Platform). The Company’s Platform is an application development platform that enables organizations to create, deploy and manage custom, native smartphone and tablet applications deliverable across iPhone operating system (iOS) and Android mobile platforms. The Company’s principal products and services include subscription to its SaaS cloud-based mobile application development platform to customers who design and build their own applications; internal and secure mobile development platform for the United States Department of Defense and related contractors; custom mobile application design and development services; mobile application marketing services, and mobile strategy implementation consulting. MOBILESMITH, INC. (OTCMKTS:MOST) Recent Trading Information
MOBILESMITH, INC. (OTCMKTS:MOST) closed its last trading session 00.00 at 1.49 with 115 shares trading hands.
MobileSmith, Inc. develops and markets a software-as-a-service (SaaS) platform that allows non-programmers to design and build native mobile applications for smartphones and tablets. The Company’s product is the MobileSmith Platform (the Platform). The Company’s Platform is an application development platform that enables organizations to create, deploy and manage custom, native smartphone and tablet applications deliverable across iPhone operating system (iOS) and Android mobile platforms. The Company’s principal products and services include subscription to its SaaS cloud-based mobile application development platform to customers who design and build their own applications; internal and secure mobile development platform for the United States Department of Defense and related contractors; custom mobile application design and development services; mobile application marketing services, and mobile strategy implementation consulting. MOBILESMITH, INC. (OTCMKTS:MOST) Recent Trading Information
MOBILESMITH, INC. (OTCMKTS:MOST) closed its last trading session 00.00 at 1.49 with 115 shares trading hands.
