Kit Digital Triples Stock Available for Employee Option Program, Votes to Increase Authorized Shares by 167%

Posted by Joe Zaller
Oct 07 2010

In a recent SEC filing, IPTV asset management technology supplier Kit Digital disclosed that it has tripled the number of shares of common stock reserved for issuance under its incentive stock plan.  The company explained the move saying that it views stock options as an important management tool and a key means to motivate employees to continue to perform. 

According to the filing, Kit Digital has not made option grants to employees in approximately two years, a time period during which the percentage of the company’s outstanding capital stock represented by the existing incentive stock option plan shrank due to significant primary share issuances.

The company also disclosed that it has filed a certificate of amendment to increase the number of authorized shares of common stock to 80,000,000 shares from 30,000,000.  The company says it views this move as a way to maximize strategic flexibility. 

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You can read the full Kit Digital SEC filing here.

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