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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Cyclo Therapeutics Inc | NASDAQ:CYTH | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.0299 | 1.98% | 1.5399 | 1.52 | 1.54 | 1.6199 | 1.50 | 1.56 | 22,605 | 18:42:43 |
Nevada | 001-39780 | 59-3029743 | ||
(State or other Jurisdiction of Incorporation or Organization) | (Commission File Number) | (IRS Employer Identification No.) |
6714 NW 16th Street, Suite B, Gainesville, Florida | 32653 |
(Address of Principal Executive Offices) | (zip code) |
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, par value $.0001 per share
|
CYTH
|
The Nasdaq Stock Market LLC
|
Warrants to purchase Common Stock
|
CYTHW
|
The Nasdaq Stock Market LLC
|
Emerging growth company ☐ |
●
|
The Executives will be paid initial base salaries of $540,750 for Mr. Scott Fine, $342,990 for Mr. Lisjak, $335,780 for Mr. Josh Fine and $309,000 for Mr. Tate, representing a 3% increase in the base salaries of the Executives in effect prior to the execution of the Employment Agreements.
|
●
|
Each Executive is eligible to receive an annual raise in his base salary targeted at 3%, in addition to any additional increase approved by the Company.
|
●
|
Each Employment Agreement is for a two year term, subject to automatic renewal for successive one-year periods unless either party provides notice of non-renewal prior to the then end of the term.
|
●
|
Each Executive is entitled to an annual cash bonus targeted at a percentage of his base salary as set forth below:
|
Officer
|
Percentage of Base Salary
|
N. Scott Fine
|
50%
|
Michael Lisjak
|
35%
|
Joshua Fine
|
40%
|
Jeffrey Tate
|
35%
|
●
|
Each Executive was awarded an option to purchase a number of shares of the Company’s common stock upon execution of the Employment Agreement, and is entitled to be awarded annually an option to purchase a number of shares of common stock of the Company targeted at a percentage of the Company’s outstanding shares of common stock on the date of grant, in each case, as set forth below:
|
Officer
|
Initial Option Grant
|
Annual Option Grant
|
||||||
N. Scott Fine
|
74,907 | 0.89 | % | |||||
Michael Lisjak
|
31,141 | 0.37 | % | |||||
Joshua Fine
|
31,141 | 0.37 | % | |||||
Jeffrey Tate
|
31,141 | 0.37 | % |
●
|
In the event of the termination of the Executive’s employment by the Company other than for Cause (as defined in the Employment Agreements), the Executive will be entitled to continued payment of base salary for one year; and if such termination occurs within 12 months following a “Change of Control,” all unvested stock options of the terminated Executive shall immediately vest in full.
|
●
|
Upon the termination Mr. Scott Fine’s employment by the Company other than for Cause absent a Change of Control, all unvested stock options that would have vested within 12 months following such termination will immediately vest.
|
●
|
Each Executive is subject to confidentiality, non-compete, non-solicitation and work-for-hire provisions.
|
(d)
|
Exhibits.
|
10.1
|
10.2
|
10.3
|
10.4
|
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document)
|
Cyclo Therapeutics, Inc.
|
|||
Date: March 2, 2022 | |||
By:
|
/s/ N. Scott Fine
|
||
N. Scott Fine | |||
Chief Executive Officer |
1 Year Cyclo Therapeutics Chart |
1 Month Cyclo Therapeutics Chart |
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