Claros Mortgage Trust Amends Incentive Plan, Adding 6.5M Shares for Potential 4.6% Dilution
Summary
Claros Mortgage Trust has amended its 2016 Incentive Award Plan, adding 6.5 million shares for future issuance and extending the ISO grant period. This increases the total shares reserved under the plan to nearly 14.8 million. This follows the definitive proxy statement filed on April 22nd seeking shareholder approval and an 8-K filed minutes prior to this news confirming stockholder approval. The addition of 6.5 million shares represents approximately 4.6% potential dilution based on current shares outstanding, which is a material amount for existing shareholders.
At the time of this announcement, CMTG was trading at $2.42 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $339.3M. The 52-week trading range was $2.05 to $3.99. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Wiseek News.