Silo Pharma, Inc 8-K, filed Jan 4, 2022
Silo Pharma, Inc. (SILO)
About this 8-K
Silo Pharma, Inc filed this 8-K on January 4, 2022, reporting on events of December 29, 2021.
Items reported
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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CURRENT REPORT
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Item 5.02. Departure of Directors or Certain Officers, Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 29, 2021, the Compensation Committee of the Board of Directors (the “Board”) of Silo Pharma, Inc. (the “Company”), approved and authorized compensation, as described below, to its non-employee directors to enable the Company to attract and retain qualified non-employee directors and in consideration of their service to the Company (the “Non-Employee Director Compensation”). The Board approved the following cash payments and option grants under the Non-Employee Director Compensation: (1) each non-employee director receives a cash retainer fee of $25,000 and a 5-year option to purchase $25,000 worth of common stock (177,233 shares) with an exercise price of $0.1460, vesting over the course of one year with 100% vesting on the one-year anniversary from the date of grant; (2) the Audit Committee Chair receives (in addition to the compensation set forth in (1) above) an additional cash fee of $12,500 and (3) the Compensation Committee Chair receives (in addition to the compensation set forth in (1) above) an additional cash fee of $7,500.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SILO PHARMA, INC. | ||
| Date: January 4, 2022 | By: | /s/ Eric Weisblum |
| Eric Weisblum, | ||
| Chief Executive Officer | ||
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