Overstock.com, Inc. (NASDAQ:OSTK) 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.
(e)On February 13, 2019 the Compensation Committee of our Board of Directors:
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awarded a $500,000 bonus to Jonathan E. Johnson III, who serves as President of our subsidiary Medici Ventures, Inc. and also as a member of our Board of Directors, for his efforts during 2018; |
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increased Mr. Johnson’s salary from $350,000 to 400,000, effective January 6, 2019; and |
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approved restricted stock unit (“RSU”) grants under the Company’s 2005 Equity Incentive Plan to directors and officers of the Company, including a grant of 20,000 RSUs to Mr. Johnson and a grant of 20,000 RSUs to our Chief Financial Officer Gregory J. Iverson. The RSU grants are scheduled to vest in three equal annual increments on February 13, 2020, February 13, 2021 and February 13, 2022. |
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About Overstock.com, Inc. (NASDAQ:OSTK) Overstock.com, Inc. is an online retailer offering a range of merchandise, including furniture, home decor, bedding and bath, houseware, jewelry and watches, apparel and designer accessories, health and beauty products, electronics and computers, and sporting goods, among other products. The Company operates through two segments: direct business and partner business. Its direct business includes sales made to individual consumers and businesses. For the Company’s partner business, it sells merchandise from manufacturers, distributors and other suppliers. The Company also sells books, magazines, compact discs (CDs), digital versatile discs (DVDs) and video games under books, movies, music and games (BMMG) category. It sells these products through its Internet Websites located at www.overstock.com, www.o.co and www.o.biz. The Company offers approximately 877,000 non-BMMG products and 1.1 million BMMG products. |