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Stock impact report

Tandy Leather Factory Clarifies Employment Inducement Award

Tandy Leather Factory, Inc. - common stock (TLF) 
US:NASDAQ Investor Relations: ir.tandyleather.com
Company Research Source: GlobeNewswire
FORT WORTH, Texas, Feb. 11, 2019 (GLOBE NEWSWIRE) -- Tandy Leather Factory, Inc. (the “Company,” NASDAQ: TLF) reported today to clarify that certain restricted stock units previously issued to Janet Carr, the Company’s Chief Executive Officer, were intended to qualify as “employment inducement grants” within the meaning of Nasdaq Stock Market Rule 5635(c)(4). On October 2, 2018, the Company granted to Ms. Carr (i) a time-based equity grant of 460,000 restricted stock units (“RSUs”) that vest over five years; (ii) a performance-based equity grant of 92,000 RSUs that vest if/when the Company's operating income exceeds $12 million dollars two fiscal years in a row; and (iii) a performance-based equity grant of 92,000 RSUs that vest if/when the Company's operating income exceeds $14 million dollars in one fiscal year.  These grants were previously reported on the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 5, 2018, and a Form 4 for Show less Read more
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