LONDON – Ethernity Networks Ltd (AIM: ENET.L) (OTCMKTS: ENETF), a key player in data processing semiconductor technology, announced today the successful passage of all resolutions during its Extraordinary General Meeting. Subsequent to the meeting, the company granted options to certain directors as detailed in the November 15, 2024, notice of the general meeting.
The options, totaling 30,618,170, were distributed among three senior executives: CEO David Levi received 21,789,223 options, VP of R&D Shavit Baruch was granted 6,574,161, and Chairman Yosi Albagli received 2,254,786. Following these grants, the total options held by these directors amount to 47,316,815, representing 4.73% of the issued share capital.
The exercise price for the options is set at £0.00247. These options are slated to vest over a period of three years, with one-twelfth of the total options vesting at the end of each quarter following the grant date.
This grant of options is a part of the company’s remuneration policy for its directors and is aimed at aligning the interests of the management with those of the shareholders. The transactions were conducted outside a trading venue and have been made in compliance with market standards for notification and public disclosure.
The information regarding the grant of options is based on a press release statement from Ethernity Networks. The company continues to maintain its position in the market by reinforcing its leadership team’s commitment to the company’s growth and success.
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