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RYUN > SEC Filings for RYUN > Form 8-K on 15-Mar-2013All Recent SEC Filings

Show all filings for RESPECT YOUR UNIVERSE, INC. | Request a Trial to NEW EDGAR Online Pro



Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

a. On March 13, 2013, Steven Eklund resigned as director of Respect Your Universe, Inc. (the "Company").

b. On March 11, 2013, the Board of Directors (the "Board") approved grants of stock options ("Options") under the Company's 2012 Incentive Stock Plan (the "Plan") to those certain named executive officers as provided in the table below.

The Options have an exercise price of $0.40 per share, the closing price of the Company's common stock on the OTCQB on March 11, 2013. The Options vest as stated below and have a term of ten years. All Options are contingent upon continued employment with the Company.

The Options were granted for the following number of shares to the following named executive officers:

Optionee No. Options Role/Service Vesting David Campisi 1,000,000 CEO 1 year vest 25% per quarter Aaron Loreth 250,000 CFO (see below) 4 year vest - 25% annual

c. On March 11, 2013, the Board of Directors of the Company promoted Aaron Loreth from Vice President of Finance to Chief Financial Officer.

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