Harvest Health & Recreation Inc. (CSE: HARV) has announced that several members from the executive team have abdicated 2.4 million equity options, with the intent of allocating them to the company’s various employees.
Three members of the executive team, including the Operational Leader, Co-Executive Chairman, and the CEO have all volunteered to redistribute their equity options to the firm’s employees as a gesture for their hard work and accomplishments. In total, qualifying employees received the 2.4 million equity options, as well as an additional 600,000 of newly-issued options.
As a result of the redistribution of equities, Harvest Health will be reporting $10 million as a non-cash charge in the first quarter of 2020. A non-cash charge is an accounting measure used to show a decrease in earnings, but not cash flow.
Harvest Health & Recreation Inc is a US-based cannabis operator, and is currently trading at $3.78 on the CSE.
Information for this briefing was found via Sedar and Harvest Health & Recreation Inc. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.