Artelo Biosciences Revises Stock Options for Employee Retention

Artelo Biosciences Inc (ARTL) has shared an announcement.

Artelo Biosciences, Inc. has strategically amended the exercise price and vesting schedule of certain stock options to bolster employee retention and motivation without diluting equity or draining cash reserves. The modifications, effective as of February 28, 2024, align the exercise price of these options with the stock’s closing price on that date and introduce a new vesting scheme. This move is designed to align the interests of key personnel with those of the shareholders, providing a more effective incentive by revising the terms for options granted to both employees and non-employee directors, including those held by the company’s top executive, Greg Gorgas.

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