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AMBT > SEC Filings for AMBT > Form 8-K/A on 3-Jul-2013All Recent SEC Filings

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Form 8-K/A for AMBIENT CORP /NY


3-Jul-2013

Change in Directors or Principal Officers, Financial Statements and Exhibits


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

On June 27, 2013, the compensation committee of the Board of Directors of Ambient Corporation ( the "Company") approved grants of restricted stock units of the Company's common stock, par value $0.001 per share (the "Common Stock") pursuant to the Company's 2012 Stock Incentive Plan to executive officers.

The Company's Chief Executive Officer, President and Chairman, John J. Joyce received 110,000 restricted units of the Company's Common Stock, Stacey Fitzgerald, the Company's Chief Financial Officer received 90,000 restricted units of the Company's Common Stock, and Michael Quarella, the Company's Chief Operating Officer received 100,000 restricted units of the Company's Common Stock.

In all cases, the restricted units awarded are scheduled to vest over approximately twelve months from the date of grant, with the first installment vesting on December 13, 2013 and subsequent installments vesting through July 15, 2014, provided that the officer is then employed by the Company as of the applicable vesting date. In the event of the termination of the employment of an officer for any reason other than cause and in certain cases of a change in control, then the unvested portions of the awards are to immediately vest.



Item 9.01. Financial Statements and Exhibits

(d) Exhibits

None


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