Geekco hands new director Lepage 800,000 shares and options
What's the deal? Geekco TechnologiesDealroom has a profile for this one. Try Dealroom → (TSXV: GKO) has granted an aggregate of 650,000 stock options and 500,000 restricted share units to a director and a consulting firm. New director Marie Ginette Lepage receives 400,000 options and 400,000 RSUs, while Michel Timperio's firm Gestion Strat-Dev receives 250,000 options and 100,000 RSUs.
The detail: The options carry an exercise price of US$0.06 each. All options and RSUs run for 10 years and remain subject to regulatory approvals, including from the TSX Venture Exchange.
Who is Lepage? The Montréal-based company appointed her to its board in August. She brings more than 30 years of executive experience.
Why now? The grants follow a June award of 3.4 million options and 2.4 million RSUs to directors and officers. In May, shareholders voted to raise the ceiling for share-based compensation to 22.4 million shares, up from 7.23 million.
What's the context? Geekco raised about US$1.04M in a February private placement, issuing units at US$0.04. The round underscores the small-cap company's ongoing need for capital and equity incentives.
The signal: For an early-stage firm, equity awards double as a way to conserve cash and tie new board talent to long-term performance. Geekco's expanded compensation ceiling leaves room for more such grants, though the awards alone say little about operating momentum.
Read more: theglobeandmail.com
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