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YOD > SEC Filings for YOD > Form 8-K on 19-Apr-2013All Recent SEC Filings

Show all filings for YOU ON DEMAND HOLDINGS, 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.

On December 3, 2010, the Board of Directors and shareholders holding a majority of the outstanding voting securities of YOU On Demand Holdings, Inc. (formerly China Broadband, Inc.) (the "Company") adopted the China Broadband, Inc. 2010 Equity Incentive Plan (the "Plan") providing for the issuance of incentive stock options, nonstatutory stock options, restricted stock, restricted stock units, stock appreciation rights, performance units and performance shares to employees, directors and consultants of the Company and its subsidiaries as the Compensation Committee of the Board of Directors (the "Committee"), acting as Administrator (as defined in the Plan), may determine.

Section 4(b)(vi) of the Plan permits the Administrator to reduce the exercise price of any award granted under the Plan if the fair market value of the award has declined since the date of grant. In accordance with Section 4(b)(vi) of the Plan, on April 19, 2013, the Committee reduced the exercise price of 534,500 outstanding stock options granted under the Plan to $2.00. All other terms of these options, including, without limitation, the exercise date, vesting schedule and the number of shares to which each option pertains, remain unchanged. The exercise prices of stock options held by the Company's Chairman and CEO, Shane McMahon, or the Company's CEO-China, Weicheng Liu, were not reduced by the Committee.

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