NexCen Amends Stock Option Plans
July 7, 2008,
Brand management company NexCen Brands has made several changes to its stock option agreements with a range of current and former employees, the company reported to the Securities and Exchange Commission.
Also, Zona and NexCen shifted some options rights; under the new agreement Zona will surrender most of his 2006 hiring agreement shares, while a second, smaller set of shares granted in March 2008 will be fully vested. NexCen will also loosen his non-compete covenant.
Kenneth Hall, who was hired as cfo in March, is granted 250,000 options in a new agreement, and NexCen grants a total of 528,000 options to 25 key employees, under identical conditions to the Hall options. These shares have an exercise price of 41 cents per share and a 10-year term, and vest in four equal installments through June 24, 2009.
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