STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF) Files An 8-K Other EventsItem 8.01Other Events.
Subsequent to the filing of its Annual Report on Form 10-KT for the transition period ended December 31, 2016 (the “Form 10-KT”), Staffing 360 Solutions, Inc. determined that certain items were incorrectly stated. The correct information is set forth below.
In Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters—2015 Omnibus Incentive Plan, the number of unissued securities remaining under the Plan as of December 31, 2016 should have been stated as 20,893 rather than 358. The sentence should read as follows: “At December 31, 2016, the Company had issued 92,000 options to purchase shares of common stock, as well as 337,107 shares of common stock, resulting in 20,893 unissued securities remaining under this plan.”
In Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters—2016 Omnibus Incentive Plan and Note 11, Stockholder’s Equity—2016 Omnibus Incentive Plan, the amount that the Compensation Committee may not grant to any one participant under the plan in any one calendar year should have been stated as $750 rather than $750,000. The sentence in both sections should read as follows: “Notwithstanding anything to the contrary in the 2016 Plan, the Compensation Committee may not grant to any one participant under the plan in any one calendar year awards (i) for more than 400,000 Common Shares in the aggregate or (ii) payable in cash in an amount exceeding $750 in the aggregate.”
In Note 11, Stockholder’s Equity—Warrants—Weighted Average Price Per Share, the weighted average price per share of warrants outstanding at December 31, 2016 should have been stated as $19.52, instead of $19.38.
These errors were limited to the sections of the Form 10-KT referenced above, and did not impact the consolidated financial statements.
Item 9.01Financial Statements and Exhibits.
(d) Exhibits
None.
About STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF)
Staffing 360 Solutions, Inc. operates in the staffing sector. The Company is engaged in the execution of a global buy-and-build strategy through the acquisition of domestic and international staffing organizations in the United States and the United Kingdom. Its targeted consolidation model is focused on the finance and accounting, administrative, engineering and information technology (IT) staffing space. STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF) Recent Trading Information
STAFFING 360 SOLUTIONS, INC. (NASDAQ:STAF) closed its last trading session up +0.018 at 0.718 with shares trading hands.