Form 8-K - Current report
30/07/2024 4:01pm
Edgar (US Regulatory)
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2024-07-29
2024-07-29
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): July 29, 2024
Nano
Magic Inc.
(Exact
name of registrant as specified in its charter)
Delaware |
|
001-11602 |
|
47-1598792 |
(State
or other jurisdiction of
incorporation or organization) |
|
(Commission
File
No.) |
|
(I.R.S.
Employer
Identification
No.) |
31601
Research Park Drive, Madison Heights, MI 48071
(Address
of principal executive offices) (Zip Code)
(844)
736-6266
(Registrant’s
telephone number, including area code)
Former
name or former address, if changed since last report:
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol |
|
Name
of Each Exchange on Which Registered |
Common
Stock, $0.0001 par value |
|
NMGX |
|
OTC
Markets |
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item
5.02 Compensatory Arrangements of Certain Officers
On
July 29, 2024, the Board granted options to our Chief Executive Officer and President, Tom J. Berman and our Chief Financial Officer,
Leandro Vera. Mr. Berman was granted 250,000 options that vested on date of grant, 250,000 that will vest on December 31, 2024, and up
to an additional one million options that will only vest if the Board elects to use options to pay some or all of a profit bonus based
on Company EBITDA that he may earn under his contract. These options will expire 5 years from date of vesting and are at an exercise
price of $0.31 per share. Mr. Vera was granted 60,000 options, half vested on date of grant and the rest vesting ratably over the rest
of 2024. All these options expire on December 31, 2029 and have an exercise price of $0.31 per share.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
Nano
Magic Inc. |
|
|
|
Date:
July 30, 2024 |
By: |
/s/
Tom J. Berman |
|
|
President
& CEO |
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