CHINA GREEN AGRICULTURE, INC. FILES (8-K) Disclosing Change in Directors or Principal Officers, Other Events
(Edgar Glimpses Via Acquire Media NewsEdge) Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
(e) On September 28, 2013, the Compensation Committee (the "Committee") of
the Board of Directors of China Green Agriculture, Inc., a Nevada corporation
(the "Company"), approved the grant of restricted stock to certain directors,
executive officers and employees of the Company under the Company's 2009 Equity
Incentive Plan, as amended (the "Plan").
Under the Plan, effective September 28, 2013, the Committee granted (i) 480,000
shares of restricted stock to Mr. Tao Li, the Company's Chief Executive Officer
(the "CEO"); (ii) 200,000 shares of restricted stock to Mr. Ken Ren, the
Company's Chief Financial Officer (the "CFO"), (iii) 40,000 shares of restricted
stock to Mr. Yizhao Zhang, 30,000 shares of restricted stock to Ms. Yiru Shi,
and 20,000 shares of restricted stock to Mr. Lianfu Liu, each is an independent
director of the Company; and (iv) 980,000 shares of restricted stock to 420
employees (the "Stock Grants").
The Stock Grants are subject to time-based vesting schedules, vesting in various
installments until March 31, 2014 for the CFO and the three independent
directors, until March 31, 2015 for the CEO and until December 31, 2015 for the
The Stock Grants were made on the terms of the Company's Form of Restricted
Stock Grant Agreement, filed as Exhibit 10.1 to the Company's Current Report on
Form 8-K filed with the Securities and Exchange Commission on January 11, 2010.
Item 8.01 Other Events.
On September 26, 2013, the Company issued 118,778 shares of common stock at the
price of $4.42 per share, the closing price at NYSE that day, to Mr. Tao Li, the
CEO in the second offering of the Company's Employee Stock Purchase Plan adopted
by the Company's Board of Directors (the "Board") on August 9, 2012 which was
later amended and restated by the Board on October 19, 2012. The issuance was in
reliance upon the exemption from registration afforded by Regulation S under the
Securities Act of 1933, as amended.
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