Oriental Culture Grants 300K Shares to CEO Yi Shao
Ticker: OCG · Form: 6-K · Filed: Feb 29, 2024 · CIK: 1776067
Sentiment: neutral
Topics: executive-compensation, stock-awards, incentive-plan
TL;DR
**Oriental Culture just granted its CEO 300,000 shares vesting over four years, signaling a long-term commitment.**
AI Summary
On February 27, 2024, the Compensation Committee of Oriental Culture Holding LTD. granted stock awards of 300,000 ordinary shares, each with a par value of $0.00025, to its CEO, Mr. Yi Shao. These awards were made under the company's 2020 Performance Incentive Plan and are subject to a four-year vesting schedule, with 25% vesting annually starting February 27, 2025.
Why It Matters
This stock award aligns the CEO's incentives with shareholder value over a multi-year period, potentially motivating long-term performance and growth for Oriental Culture Holding LTD.
Risk Assessment
Risk Level: low — The filing reports a routine stock award to an executive, which is a common compensation practice and does not inherently pose significant risk.
Key Numbers
- 300,000 — Ordinary Shares (granted to CEO Yi Shao)
- $0.00025 — Par Value (per ordinary share)
- 4 years — Vesting Period (for the stock awards)
Key Players & Entities
- Oriental Culture Holding LTD. (company) — registrant
- Yi Shao (person) — CEO and award recipient
- 300,000 (dollar_amount) — number of ordinary shares granted
- $0.00025 (dollar_amount) — par value per ordinary share
- February 27, 2024 (date) — grant date of stock awards
FAQ
What was the grant date for the stock awards mentioned in the filing?
The grant date for the stock awards was February 27, 2024.
Who received the stock awards from Oriental Culture Holding LTD.?
The stock awards were granted to Mr. Yi Shao, the Chief Executive Officer of Oriental Culture Holding LTD.
How many ordinary shares were granted in the stock awards?
A total of 300,000 ordinary shares were granted in the stock awards.
What is the par value of each ordinary share mentioned in the filing?
The par value of each ordinary share is $0.00025.
What is the vesting schedule for the granted stock awards?
The stock awards are subject to a four-year vesting schedule, with 25% vesting annually starting on February 27, 2025.
Filing Stats: 311 words · 1 min read · ~1 pages · Grade level 12.9 · Accepted 2024-02-29 16:30:07
Key Financial Figures
- $0.00025 — dinary shares of the Company, par value $0.00025 (the “Ordinary Shares”), pu
Filing Documents
- ea0200882-6k_oriental.htm (6-K) — 11KB
- ea0200882ex10-1_oriental.htm (EX-10.1) — 24KB
- 0001213900-24-018516.txt ( ) — 36KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. Oriental Culture Holding LTD Date: February 29, 2024 By: /s/ Yi Shao Name: Yi Shao Title: Chief Executive Officer 1 Exhibit Index Exhibit Number Description 10.1 Form of Unrestricted Stock Award Agreement by and between Oriental Culture Holding LTD. and Grantees dated on February 27, 2024. 2