PetMed Express Inc.
09/27/2024 | Press release | Distributed by Public on 09/27/2024 14:11
Management Change/Compensation Form 8 K
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On September 27, 2024, the Board of Directors of PetMed Express, Inc. (the "Company") adopted the PetMed Express, Inc. 2024 Inducement Incentive Plan (the "Inducement Plan")pursuant to which the Company reserved 350,000 shares of common stock, par value $0.0001 per share, of the Company's common stock (subject to the adjustment provisions of the Inducement Plan) for the issuance of equity awards granted under the Inducement Plan.
The Inducement Plan was adopted without stockholder approval pursuant to Rule 5635(c)(4) of the Nasdaq Stock Market LLC's ("Nasdaq") Listing Rules. The Inducement Plan provides for the grant of equity-based awards, including nonstatutory stock options, restricted stock, restricted stock units, and performance stock awards, and its terms are substantially similar to the PetMed Express, Inc. 2024 Omnibus Incentive Plan, with the exception that incentive stock options may not be issued under the Inducement Plan and awards under the Inducement Plan may only be issued to eligible recipients under the applicable Nasdaq Listing Rules.
A copy of the Inducement Plan and related forms of award agreements under the Inducement Plan are attached as exhibits to this Current Report on Form 8-K and incorporated by reference herein. The above description of the Inducement Plan does not purport to be complete and is qualified in its entirety by reference to the full text of the Inducement Plan.
An RSU grant from the Inducement Plan was made by the Company to Robyn D'Elia, the Company's Chief Financial Offer, on September 27, 2024.