What Led The Ascent Solar (ASTI) Stock To Increase In After-Hour Trades?

Ascent Solar Technologies Inc. (Nasdaq: ASTI) shares were up 7.59% at $3.40 as of the most recent check in after-hours trading as the company started offering options trading.

How did ASTI pull this off?

Last week, Ascent Solar (ASTI) began offering its shares for trading across all U.S. options exchanges. On November 17, 2022, Nasdaq accepted Ascent Solar’s options for trading. As a result, the public may now access four option chains: December 2022, January 2023, February 2023, and May 2023.

The relisting of ASTI on Nasdaq, the reformation of its board of directors, and the appointment of new senior leadership in early 2022 marked the beginning of the company’s total recovery. The options trading on ASTI will give the investment community more opportunities and liquidity. The ASTI options have a monthly expiration date.

Following the change in administration, ASTI issued an incentive grant:

ASTI recently gave Mr. Jeffrey Max, the organization’s newly appointed CEO, an incentive award of restricted stock units (“RSUs”), which would vest on September 21, 2022, for a total of 3,534,591 shares of Ascent Solar’s common stock. Upon enticing Mr. Max into signing an employment contract with Ascent, the RSU award was agreed to. The Nasdaq Listing Rule was followed in the agreement and award of the RSUs.

Twenty percent (20%) of the RSUs were granted full ownership. Over the following 36 months, the remaining eighty percent (80%) of the RSUs will vest in equal monthly portions. Upon the sooner of I a change of control and (ii) the termination of Mr. Max’s employment for any reason other than (x) by the Company for cause or (y) by Mr. Max without good reason, any outstanding and unvested RSUs will accelerate and fully vest.

How will ASTI handle the grant’s ongoing settlement?

Beginning with the first payment date of September 30, 2024, Ascent Solar (ASTI) shall payout RSUs in eight (8) equal installments on the last business day of each calendar quarter. Despite the aforementioned, any ASTI RSUs that are still outstanding and vested will be resolved and accelerated upon the earliest of I a change of control and (ii) Mr. Max’s termination of employment for any reason other than (x) by the Company for cause or (y) by Mr. Max without good reason.

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