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
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
(e) On April 30, 2019, the Board of Directors of Medici Land Governance, Inc. (“MLG”), an indirect majority-owned subsidiary of Overstock.com, Inc. (“Overstock”), adopted the Medici Land Governance, Inc. 2019 Stock Option Plan (the “Plan”). Overstock indirectly owns approximately 57% of the outstanding common stock of MLG. Overstock owns its interest in MLG through Overstock’s wholly-owned subsidiary Medici Ventures, Inc.
The Plan provides for the grant of options to purchase MLG common stock to MLG current employees, future employees and directors, subject to approval by the MLG board of directors. Certain officers and directors of Overstock are eligible to participate in the Plan, including Patrick M. Byrne, Overstock\’s founder and Chief Executive Officer, and Robert Hughes, Overstock’s former Senior Vice President, Finance and Risk Management, and current President of MLG.
The Plan is filed with this report as Exhibit 10.1 and is incorporated herein by reference. The foregoing description is subject to, and qualified in its entirety by, the text of the Plan.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
The following exhibit is furnished with this report:
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OVERSTOCK.COM, INC Exhibit
EX-10.1 2 equityplan.htm EXHIBIT 10.1 Exhibit Exhibit 10.1MEDICI LAND GOVERNANCE,… To view the full exhibit click here
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. |