RenovaCare, Inc. (OTCMKTS:RCAR) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement.
On May 11, 2017, RenovaCare, Inc. (the Company)
entered into stock option agreements (the Stock Option
Agreements) with each of Thomas Bold, the Companys
President CEO and Interim CFO, Dr. Kenneth Kirkland, a member of
the Companys Board of Directors (the Board) and
Joseph Sierchio, a member of the Board, to which it issued to
each an option to purchase up to 75,000 shares (the
Option Shares) of the Companys common stock at
an exercise price of $4.20 per share, the closing price of the
Companys common stock as quoted on the OTC Markets Group Inc. QB
tier on May 11, 2017. to the terms of the Stock Option Agreement,
37,500 Option Shares vested immediately on the grant date and the
remaining 37,500 Option Shares will vest on May 11, 2018. The
Option Shares may be exercised on a cashless basis using the
formula contained therein and are further subject to the Companys
2013 Long-Term Incentive Plan.
The foregoing is only a summary of the material provisions of the
Stock Option Agreements, it may not contain all of the
information that is important to you and it is qualified in its
entirety by reference to the respective stock option agreement, a
form of which is attached as Exhibit 10.2, to
the Companys Current Report on Form 8-K filed with the Securities
and Exchange Commission on June 26, 2013 and is incorporated by
reference herein.
Item 5.02 Departure of Certain Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
The information included in Item 1.01 Entry into a
Material Definitive Agreement is incorporated by
reference herein.
Effective as of May 11, 2017, the Board increased its size from
two members to three members and appointed Mr. Thomas Bold, the
Companys President CEO and Interim CFO to serve as a member of
the Board to the Companys bylaws and to serve in such capacity
until his successor has been duly appointed and elected, subject
to his earlier resignation or removal. Since December 1, 2013,
Mr. Bold has served as the Companys President CEO and in
September 2016 he was appointed as the Companys Interim CFO.
About RenovaCare, Inc. (OTCMKTS:RCAR)
RenovaCare, Inc., formerly Janus Resources, Inc., is a biotechnology company. The Company is focused on the acquisition, research, development and commercialization of autologous cellular therapies that can be used for medical and aesthetic applications. The Company’s initial products under development target skin. The Company, through RenovaCare Sciences Corp., offers treatment methodology for cell isolation for the regeneration of human skin cells, along with a medical-grade liquid spraying device and associated equipment (the SkinGun). It is evaluating the efficacy and potential of SkinGun, in combination with a cell isolation method, in the treatment of tissue that has been subject to severe trauma. Its technology, the CellMist System, uses SkinGun to spray a liquid suspension of a patient’s stem cells, the CellMist Solution, onto wounds. The CellMist System harvests a patient’s stem cells from a small area of skin and suspends them in the water-based CellMist Solution. RenovaCare, Inc. (OTCMKTS:RCAR) Recent Trading Information
RenovaCare, Inc. (OTCMKTS:RCAR) closed its last trading session down -0.09 at 3.87 with 22,100 shares trading hands.
