eGain Corporation filed SEC Form 8-K: Leadership Update, Other Events
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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.
(e)
On November 10, 2023, the Compensation Committee of the Board of Directors (the “Board”) of eGain Corporation (the “Company”) approved a variable annual cash compensation to executive officers of the Company based on 75% of target amounts. The compensation approved for fiscal year 2023 was (a) $75,000 for the Company’s Chief Executive Officer, Ashutosh Roy, (b) $97,500 for the Company’s Chief Financial Officer, Eric N. Smit, and (c) $67,500 for the Company’s Chief Technology Officer, Promod Narang. No changes were made to the executive officers’ base salaries or target variable compensation.
On November 10, 2023, the Board granted the following restricted stock units (“RSU”) to certain executive officers of the Company (excluding the Company’s Chief Executive Officer) under the Company’s Amended and Restated 2005 Stock Incentive Plan (the “Stock Plan”). Each RSU has a grant price of $6.57 per share, the closing price of the Company’s common stock on the Nasdaq Capital Market on the date of grant, and will vest on November 15, 2024, subject to continued service with the Company.
Name, TitleRSUs
Eric N. Smit, Chief Financial Officer1,461
Promod Narang, Chief Technology Officer1,416
Item 8.01.Other Events.
On November 10, 2023, the Board approved the following grants of RSUs to its non-employee directors under the Stock Plan. Each RSU was granted at grant price of $6.57 per share, the closing price of the Company’s common stock on the Nasdaq Capital Market on the date of grant, and will vest on November 15, 2024, subject to continued service with the Company.
Non-employee DirectorRSUs
Gunjan Sinha2,500
Phiroz P. Darukhanavala, Ph.D.2,500
Christine Russell2,500
Brett Shockley2,500
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SIGNATURE
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 thereunto duly authorized.
Date: November 16, 2023 | eGain Corporation | |
By: | /s/ Eric N. Smit | |
Eric N. Smit Chief Financial Officer Principal Financial and Accounting Officer) |
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