TORONTO–(BUSINESS WIRE)–Pivotree Inc. (TSXV:PVT) (“Pivotree” or the “Company”), today announced that it has granted an aggregate of 193,021 stock options (each, an “Option”) to certain executive officers of the Company pursuant to the Company’s Equity Incentive Plan (the “Plan”). The Options bear an exercise price of $2.48 per share, vest over a period of four years from the date of grant, and will expire 10 years from the date of grant.
The Company granted an aggregate of 103,657 deferred share units (each an “DSU”) to certain non-executive officers of the Company in respect of their services to the Company for the ensuing 12 months from July 1, 2023 to June 30, 2024 pursuant to the Plan. The DSUs vest on a prorated basis during the period of services to the Company, and fully vest by June 30, 2024. The DSUs may be settled, at the option of the Company, in cash or common shares of the Company, or a combination of cash and common shares, upon the applicable director ceasing to be a director of the Company.
A copy of the Plan is attached as Schedule A to the Company’s most recent Management Information Circular, which is available on the Company’s profile on SEDAR at www.sedar.com.
Pivotree, a leader in frictionless commerce, designs, builds and manages digital platforms in Commerce, Data Management, and Supply Chain for over 250 major retail and branded manufacturers globally. Pivotree’s portfolio of digital solutions, managed and professional services help provide retailers with true end-to-end solutions to manage complex digital commerce platforms, along with ongoing support from strategic planning through platform selection, deployment, and hosting, to data and supply chain management. Headquartered in Toronto, Canada with offices and customers in the Americas, EMEA, and APAC, Pivotree is widely recognized as a high-growth company and industry leader. For more information, visit www.pivotree.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Dennis Fong, Investor Relations
Mo Ashoor, Chief Financial Officer