09/09/2024 | Press release | Distributed by Public on 09/09/2024 07:21
Item 5.07 Submission of Matters to a Vote of Security Holders.
On September 6, 2024, Scott Absher, as the holder of 4,750,277 (representing 63.3%) of the outstanding shares of common stock of ShiftPixy, Inc. (the "Company"), approved by written consent the Company's grant to its Chief Executive Officer of the Option Agreement providing to him a conditional right to receive 5,302,277 shares of the Company's Preferred Class A Stock. The conditional option is exercisable only following the next succeeding reverse split, if any, of the Company's shares of common stock, (b) only one time and (c) submission of the notice of exercise and tender to the Company of the par value per share applicable to each of the shares of the Company's preferred Class A Stock. The Company anticipates completing the reverse split and the Option Agreement will become effective approximately (but not less than) 20 days after the definitive information statement relating to such actions is mailed to shareholders. Mr. Absher is the Company's chief executive officer.