TORONTO – Electra Battery Materials Corporation (NASDAQ:ELBM; TSX-V:ELBM), a company specializing in low-carbon, ethically-sourced battery materials, has announced the issuance of incentive stock options and restricted share units (RSUs) to select personnel. The initiative, part of the company’s Long-Term Incentive Plan, is aimed at retaining and motivating key employees and aligning their interests with those of shareholders.
The company has granted 3,150,225 stock options and 104,938 RSUs to certain directors, officers, employees, and contractors. Additionally, Electra will issue 194,268 common shares to settle C$157,357 of earned performance-based incentive cash payments to some non-officer employees. The shares are priced at C$0.81 each, equivalent to the stock’s closing price on the day of the announcement.
The RSUs are set to vest on the first anniversary of the grant date and may be settled in cash or shares at the company’s discretion. The stock options will be exercisable for four years and will vest over two years, with half vesting on each anniversary of the grant date.
Finalization of these incentive grants and the share settlement is pending approval from the TSX Venture Exchange. This move comes as Electra continues to develop its cobalt sulfate refinery and a black mass refinery, intending to support North America’s electric vehicle supply chain.
The company’s strategy includes integrating black mass recycling and nickel sulfate production at its cobalt refinery near Toronto, advancing its cobalt-copper project in Idaho, and expanding operations into Quebec.
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