Dalradian delivers truckload of stock options

22nd Dec 2016 08:45

(ShareCast News) - Dalradian Resources announced on Thursday that it issued 1.4 million stock options and 294,000 deferred share units to its directors on 16 December.The TSX and AIM-traded company said the DSUs were issued in accordance with the its DSU plan and vested immediately.It said the stock options, which were issued in accordance with the company's stock option plan, were exercisable into common shares of Dalradian at $1.19 over a five-year term.Vesting was immediate for 466,667 options on 16 December 2016, with 466,667 options vesting 12 months after the director grant date and the final 466,666 options vested 24 months after the director grant date.In addition, on 14 December the Company issued 125,000 stock options to two employees exercisable at $1.30, with 41,667 options vesting on 14 December 2016, 41,667 options vesting 12 months after that employee grant date and the final 41,666 options vesting 24 months after the employee grant date.The company also reported the issuance of a total of 945,000 restricted share units to its officers and 210,000 to one other employee on 16 December."The RSUs, which were issued in accordance with the company's RSU Plan, are redeemable as common shares after December 16, 2019 subject to the condition that the recipients remain employed by the company," its board confirmed."One RSU gives the recipient the right to one common share in the company at nil cost to the recipient."