GT Resources Announces Equity Incentives for Directors, Officers, Employees, Advisors, and Consultants
Toronto, Ontario – GT Resources Inc. (TSXV: GT) (OTCQB: CGTRF) (FSE: 7N1) (the “Company” or “GT”) is pleased to announce that its board of directors have approved the granting of equity incentives to certain directors, officers, employees, advisors, and consultants. These incentives are designed to align the interests of these individuals with those of the Company and to provide them with long-term financial benefits.
Restricted Share Units (RSUs)
A total of 875,000 RSUs have been granted to certain employees, advisors, and consultants. These RSUs vest three years from the date of issue and have a term of five years. This means that the recipients will only be able to receive the common shares represented by the RSUs if they are still employed by or providing services to the Company at the end of the vesting period.
Deferred Share Units (DSUs)
Three million DSUs have been granted to certain officers and directors. These DSUs are exercisable upon departure from the Company and vest one year from the date of issue. This means that if an officer or director leaves the Company before the vesting period is up, they will not be able to exercise the DSUs and will forfeit them.
Stock Options
A total of 10,800,000 stock options have been granted to certain officers, directors, and employees. These options are exercisable for five years at a price of $0.025 per common share. Half of the options (5,400,000) vest immediately and the other half (5,400,000) vest every six months thereafter. This means that recipients can exercise their options to purchase common shares at any time during the five-year period, but they will only be able to exercise the vested options.
Impact on Individuals
These equity incentives provide recipients with a long-term financial interest in the success of the Company. By tying their compensation to the performance of the Company, GT hopes to attract and retain top talent and to align the interests of its team members with those of its shareholders.
Impact on the World
The granting of these equity incentives by GT Resources is a common practice in the business world. It allows companies to attract and retain top talent by offering them a stake in the company’s success. This, in turn, can lead to increased innovation, productivity, and competitiveness. However, it is important to note that the dilutive effect of these incentives on existing shareholders should be considered.
Conclusion
GT Resources’ announcement of equity incentives for its directors, officers, employees, advisors, and consultants is a positive step for the Company. By aligning the interests of these individuals with those of the Company and providing them with long-term financial benefits, GT hopes to attract and retain top talent and to increase its competitiveness. However, the dilutive effect of these incentives on existing shareholders should be carefully considered.
- GT Resources grants equity incentives to directors, officers, employees, advisors, and consultants
- 875,000 RSUs granted to certain employees, advisors, and consultants
- 3,000,000 DSUs granted to certain officers and directors
- 10,800,000 stock options granted to certain officers, directors, and employees
- RSUs vest over three to five years, DSUs vest upon departure, stock options vest immediately and every six months thereafter
- Equity incentives provide long-term financial benefits and align interests of recipients with those of the Company
- Dilutive effect of incentives on existing shareholders should be considered
