Schmitt Industries's Chief Executive Officer just picked up 6,000 shares

Michael R. Zapata, Schmitt Industries's Chief Executive Officer, recently acquired 6,000 shares of the company. The buys took place at $0.00 per share (and therefore, likely the result of option or restricted share grants), on December 05, 2019. Zapata now owns 47,777 shares of the company. Zapata operates out of Portland, OR. Some additional info was provided as follows:

Restricted Stock Units (RSUs) vested on December 3, 2019, pursuant to the terms of the Executive Chairman Agreement dated December 1, 2018. Eight tranches of 6,000 RSUs vest if, prior to December 3, 2022, the 15 day trading average closing price of the Company's common stock is greater than or equal to the target price of $2.70, $2.90, $3.10, $3.30,$3.50, $3.70, $3.90, and $4.10.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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Other recent filings from the company include the following:

Tender offer statement by Issuer - June 11, 2020
Other Events - June 11, 2020
Written communication relating to an issuer or third party - June 3, 2020

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