UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
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Emerging Growth Company
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On March 26, 2019, the Board of Directors (the “Board”) of Odyssey Marine Exploration, Inc. (“Odyssey”) adopted and approved the 2019 Stock Incentive Plan (the “2019 Plan”), which was approved by our stockholders on June 3, 2019. The 2019 Plan permits the grant of options, restricted stock units, restricted stock awards, and stock appreciation rights (collectively, “awards”) to attract and retain employees, officers, consultants, and directors and to align their interests with those of our stockholders. As adopted and approved, the 2019 Plan authorized 800,000 shares for issuance pursuant to awards.
On March 7, 2022, the Board upon the recommendation of the Compensation Committee, adopted resolutions to increase from 800,000 to 2,400,000, the number of shares authorized for issuance pursuant to awards. The increase was approved by Odyssey’s stockholders at Odyssey’s 2022 Annual Meeting of Stockholders.
On April 24, 2024, the Board, upon the recommendation of the Compensation Committee, adopted resolutions to increase, from 2,400,000 to 4,400,000, the number of shares authorized for issuance pursuant to awards, subject to the approval of the Odyssey’s stockholders at the next Annual Meeting of Stockholders.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ODYSSEY MARINE EXPLORATION, INC. | ||||
| Dated: April 26, 2024 | By: | /s/ Mark D. Gordon | ||
| Mark D. Gordon | ||||
| Chairman and Chief Executive Officer | ||||
Document and Entity Information |
Apr. 24, 2024 |
|---|---|
| Cover [Abstract] | |
| Security Exchange Name | NASDAQ |
| Amendment Flag | false |
| Entity Central Index Key | 0000798528 |
| Document Type | 8-K |
| Document Period End Date | Apr. 24, 2024 |
| Entity Registrant Name | ODYSSEY MARINE EXPLORATION, INC. |
| Entity Incorporation State Country Code | NV |
| Entity File Number | 001-31895 |
| Entity Tax Identification Number | 84-1018684 |
| Entity Address, Address Line One | 205 S. Hoover Blvd. |
| Entity Address, Address Line Two | Suite 210 |
| Entity Address, City or Town | Tampa |
| Entity Address, State or Province | FL |
| Entity Address, Postal Zip Code | 33609 |
| City Area Code | (813) |
| Local Phone Number | 876-1776 |
| Written Communications | false |
| Soliciting Material | false |
| Pre Commencement Tender Offer | false |
| Pre Commencement Issuer Tender Offer | false |
| Security 12b Title | Common Stock, par value $0.0001 per share |
| Trading Symbol | OMEX |
| Entity Emerging Growth Company | false |