Here's the link for the filing and a short excerpt.
freeedgar.com
In April 1998, the Board of Directors approved an amendment to the 1995
Plan to increase the number of shares of Common Stock authorized for issuance
pursuant to stock options under the 1995 Plan by 900,000 shares to 1,650,000
shares. At the Annual Meeting, the shareholders will be requested to consider
and approve the amendment to the 1995 Plan increasing the number of shares of
Common Stock the Company is authorized to issue under the 1995 Plan by 900,000
shares to a cumulative total of 1,650,000 shares. The affirmative vote of a
majority of the outstanding shares of the Company's Common Stock represented and
entitled to vote at the Annual Meeting will be required to approve such
amendment.
As of April 13, 1998, 750,000 shares of common stock were authorized for
issuance under the 1995 Plan, 69,000 shares had been issued upon the exercise of
options granted under the 1995 Plan, 1,255,455 shares were issuable upon the
exercise of outstanding options, and no shares remained available for additional
option grants under the 1995 Plan. As of April 13, 1998, additional options to
purchase an aggregate of 574,455 shares of Common Stock were granted by the
Board under the 1995 Plan subject to approval by the Company's shareholders, at
the Annual Meeting, of the amendment to the 1995 Plan increasing the number of
shares authorized thereunder as described above. |
