FLYHT Aerospace Solutions Ltd. (TSX VENTURE: FLY) (OTCQX: FLYLF) has granted incentive stock options for an aggregate 3,660,220 common shares, subject to regulatory approval, to employees, officers and directors, the company said.
The stock options are exercisable at a price of USD 0.22 per share. They also feature immediate vesting and expire on December 31, 2020.
A maximum of 10% of the issued and outstanding shares are reserved under the company´s stock option plan. The options, and any common shares issued upon exercise of the stock options are subject to a four-month resale restriction.
FLYHT is a provider of real-time aircraft intelligence and cockpit communications for the aerospace industry. Its proprietary technology, the Automated Flight Information Reporting System (AFIRS), operates on multiple aircraft types and provides functions such as safety services voice and text messaging, data collection and transmission, and on-demand streaming of flight data recorder (black box), engine and airframe data.