VerifyMe, Inc. (OTCMKTS:VRME) Files An 8-K Unregistered Sales of Equity Securities
On August 5, 2020, the Compensation Committee of the Board of Directors (the “Board”) of VerifyMe, Inc. (the “Company”) granted Patrick White, the Company’s President, Chief Executive Officer and member of the Board, a restricted stock award of 60,000 shares of the Company’s common stock, par value $0.001 per share, that vests in full one-year from the date of grant, subject to Mr. White’s continued services as a director of the Company on the vesting date.
The shares of restricted common stock granted to Mr. White were issued in reliance upon the exemption from registration requirements to Section 4(a)(2) of the Securities Act of 1933, as amended, and the rules promulgated thereunder, and to applicable state securities laws and regulations, relative to transactions by an issuer not involving a public offering.
To the extent required by Item 5.02 of Form 8-K, the disclosure in Item 3.02 of this Current Report on Form 8-K is incorporated herein by reference.
About VerifyMe, Inc. (OTCMKTS:VRME)
VerifyMe, Inc., formerly LaserLock Technologies, Inc., operates in the anti-counterfeiting industry. The Company offers security solutions for identification and authentication of people, products and packaging in a range of applications in the security field for both digital and physical transactions. Its products are used to manage and issue secure credentials, including national identifications, passports, driver licenses and access control credentials, as well as authentication security software to secure physical and logical access to facilities, computer networks, Internet sites and mobile applications. Its digital technologies involve the utilization of multiple authentication mechanisms, some of which it owns and some of which it license. These mechanisms include biometric factors, knowledge factors, possession factors and location factors. The Company’s solutions allow the assessment and quantification of risk using a scoring mechanism.