Pershing Gold Corporation (NASDAQ:PGLC) 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
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
On March 23, 2017, Pershing Gold Corporation (the Company) and
Stephen Alfers, the Companys Chief Executive Officer and
President, entered into a Restricted Stock Unit Grant Agreement
dated March 21, 2017 (the RSU Agreement).
Under the terms of the RSU Agreement, Mr. Alfers was granted a
total of 50,000 restricted stock units (the RSUs) as a portion of
Mr. Alfers bonus for services provided in 2016, in accordance
with the terms of Mr. Alfers Amended and Restated Executive
Employment Agreement, dated June 28, 2015. The RSUs vested on the
date of grant. For each fully vested RSU, Mr. Alfers will be
entitled to receive one share of common stock upon the earlier of
December 31, 2018, Mr. Alfers separation from service or death,
or a change in control of the Company (as defined in the RSU
Agreement), all as set forth in the RSU Agreement.
This summary of the RSU Agreement is not complete, and is
qualified in its entirety by reference to the full text of the
agreement that is attached as Exhibit 10.1 to this Current Report
on Form 8-K and incorporated by reference herein.
| Item 5.03 |
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On March 21, 2017, the Board of Directors (the Board) of the
Company, to comply with certain requirements of the Toronto Stock
Exchange, amended and restated the Companys Amended and Restated
Bylaws to prohibit the issuance of shares of common stock of the
Company in exchange for promissory notes or future services (the
Second Amended and Restated Bylaws). The Second Amended and
Restated Bylaws took effect March 21, 2017.
This summary of the Second Amended and Restated Bylaws is not
complete, and is qualified in its entirety by reference to the
full text of the Second Amended and Restated Bylaws attached as
Exhibit 3.1 to this Current Report on Form 8-K and incorporated
by reference herein.
| Item 9.01. | Financial Statements and Exhibits. |
(d)The following are filed as exhibits to this report on Form
8-K.
| Exhibit No. | Description | |
| 3.1 | Second Amended and Restated Bylaws | |
| 10.1 |
Restricted Stock Unit Grant Agreement, dated March 21, 2017, between Pershing Gold Corporation and Stephen Alfers |
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About Pershing Gold Corporation (NASDAQ:PGLC)
Pershing Gold Corporation is a gold and precious metals exploration company. The Company focuses on exploration, development and mining opportunities in Nevada. The Company is focused on exploration at its Relief Canyon properties in Pershing County in northwestern Nevada. The Company operates its business directly and also through its subsidiary, Gold Acquisition Corp. Gold Acquisition Corp. owns and is engaged in conducting exploration on the Relief Canyon Mine property in northwestern Nevada. The Company is engaged in conducting exploration on the Relief Canyon expansion properties. The Relief Canyon Mine includes approximately three open pit mines, heap leach pads consisting of approximately six cells, approximately two solution ponds and a cement block constructed adsorption desorption-recovery (ADR) solution processing circuit. The Pershing Pass property includes approximately 490 lode mining claims. The Company has not generated any revenues. Pershing Gold Corporation (NASDAQ:PGLC) Recent Trading Information
Pershing Gold Corporation (NASDAQ:PGLC) closed its last trading session down -0.04 at 2.92 with 87,404 shares trading hands.
