Charles Davidson, a director of Schmitt Industries, recently acquired 3,000 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 31, 2019. Davidson now owns 21,000 shares of the company. Davidson operates out of Portland, OR. Some additional info was provided as follows:
Restricted Stock Units (RSUs) vested on December 30, 2019, pursuant to the terms of the Strategic Advisory Committee Charter.
One tranche of 6,000 RSUs vest if 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 and seven tranches of 3,000 RSUs vest if the 15 day trading average closing price of the Company's common stock is greater tha
n or equal to the target price of $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