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Subsequent Events (Tables) | 6 Months Ended
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Jun. 30, 2024
Subsequent Events [Abstract] |
Schedule of Equity Compensation Awards | On July 1, 2024, the Board approved the following equity compensation awards to the following named executive officers:
Name: |  | Role/Title: |  | RSU Awards(1) |  |  | Stock Options(1)(2) |
Kaliste Saloom |  | General Counsel and Corporate Secretary |  |  | 144,093 | (3) |  |  |  |
William ‘Sandy’ Harrison |  | Chief Financial Officer |  |  | 792,508 | (3) |  |  |  |
|  |  |  |  | 16,424 | (4) |  |  |  |
Rahul Mewawalla |  | Director, CEO, President |  |  | 2,881,845 | (3) |  |  | 1,750,000 | (5)
|  |  |  |  | 1,801,153 | (6) |  |  |  |
Craig Hibbard |  | Chief Development Officer |  |  | 31,142 | (6) |  |  |  |
| (1) | RSUs and Option awards were made under and subject to the Company’s 2024 Omnibus Equity Incentive Plan (the “2024 Plan”).
| (2) | Stock option grants were made on the form of Stock Option Grant Notice and Option Agreement filed as Exhibit 99.2 to the Company’s Registration Statement on Form S-8 filed June 21, 2024.
| (3) | Restricted stock units vest in four equal installments on August 26, 2025, August 25, 2026, August 24, 2027 and August 23, 2028.
| (4) | Restricted stock units vest fully on July 1, 2024.
| (5) | Stock Option vests in the following amounts when the fair market value of Company’s share (as measured on each trading day) averaged over the preceding ten trading days has reached or exceeded the corresponding price as follow: 500,000 Shares vest at price of $1.89, 400,000 Shares vest at price of $2.30, 300,000 Shares vest at $3.60, 200,000 Shares vest at price of $4.70, 100,000 Shares vest at price of $6.00, 100,000 Shares vest at price of $7.10, 100,000 Shares vest at price of $8.20, and 50,000 Shares vest at price of $9.40. Provided that if the corresponding price vesting condition is met prior to January 1, 2025, such portion of the option shall vest on January 1, 2025. In addition, if the Company undergoes or upon a change in control, all Options shall be fully and immediately accelerated.
| (6) | Restricted stock units vest fully on July 1, 2024.

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