Edgewater Wireless Announces Approval of Equity Incentive Plan, Grant of Stock Options and DSUs

Core Viewpoint - Edgewater Wireless Systems Inc. has received shareholder approval for a new equity incentive plan, which allows for the issuance of various stock-based awards to its directors, officers, employees, and consultants [1][2]. Group 1: Compensation Plan Details - The new Compensation Plan replaces the previous fixed 20% stock option plan and allows for the issuance of stock options, restricted share units, performance share units, and deferred share units [2]. - The total number of common shares reserved for issuance under the Compensation Plan is capped at 47,669,494 shares, which is 20% of the total issued and outstanding shares on a non-diluted basis at the time of implementation [2]. - The Compensation Plan is pending final approval from the TSX Venture Exchange, with further details available in the management information circular filed on SEDAR [3]. Group 2: Stock Options and Deferred Share Units - The company has granted options to purchase 6,300,000 common shares at a price of $0.05 per share, with a validity until December 22, 2030 [4]. - Of the options granted, 5,400,000 will vest in a staggered manner: 33% on the grant date, 33% after one year, and 34% after two years [4]. - Additionally, 2,500,000 deferred share units have been granted to directors and officers, vesting after one year and entitling holders to receive one common share upon vesting [5]. Group 3: Company Overview - Edgewater Wireless specializes in enhancing Wi-Fi quality of service by managing congestion and spectrum allocation in real-time, which benefits service providers and customers through improved efficiency and connectivity [6]. - The company’s patented Spectrum Slicing platform, part of the PrismIQ™ product family, significantly enhances Wi-Fi performance, offering 10x performance and up to 50% lower latency [7]. - Edgewater Wireless holds 26 granted patents and operates on a fabless model, aiming to transform Wi-Fi economics for various markets, including residential, enterprise, and Industrial IoT [7].