STAFFING 360 SOLUTIONS, INC. : Change in Directors or Principal Officers, Submission of Matters to a Vote of Security Holders, Financial Statements and Exhibits (form 8-K)

Published: 2021-10-15 16:09:07 ET STAF

Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Staffing 360 Solutions, Inc. 2021 Omnibus Incentive Plan

On October 14, 2021, Staffing 360 Solutions, Inc. (the "Company") held its 2021 virtual annual meeting of stockholders (the "Annual Meeting"). At the Annual Meeting, the Company's stockholders approved the 2021 Omnibus Incentive Plan (the "Plan"), pursuant to which the Company may grant equity incentive awards to key employees, key contractors, and non-employee directors of the Company. The Plan provides for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent rights, and other awards, which may be granted singly or in combination, and that may be paid in cash, shares of the Company's common stock, or a combination of cash and common stock. A total of 500,000 shares of common stock are reserved for grant under the Plan subject to adjustment in certain circumstances to prevent dilution or enlargement. The Plan had been previously approved by the Company's board of directors (the "Board") on August 17, 2021, subject to stockholder approval, and will terminate on August 17, 2031.

The description of the Plan and such portions of the Company's definitive proxy statement on Schedule 14A (the "Proxy Statement") filed with the Securities and Exchange Commission on August 23, 2021 are qualified in their entirety by reference to the full text of the Plan, filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.

As previously reported in the Proxy Statement, the terms of the Company's Class I directors, Dimitri Villard, Nicholas Florio and Vincent Cebula, and Non-Classified Director, Brendan Flood, were scheduled to expire at the Annual Meeting, and the Board nominated for re-election at the Annual Meeting Dimitri Villard, Nicholas Florio and Vincent Cebula as Class I directors and Brendan Flood as Non-Classified director.

At the Annual Meeting, Mr. Cebula, Mr. Villard and Mr. Florio were elected as Class I directors of the Board to serve for a term expiring at the Company's 2023 annual meeting of stockholders (the "2023 Annual Meeting") or until his or her successor is elected or qualified. At the Annual Meeting, Mr. Flood was elected as Non-Classified director of the Board to serve for a term expiring at the Company's 2022 annual meeting of stockholders (the "2022 Annual Meeting") or until his or her successor is elected or qualified.

For more information about the matters above, see the Company's Proxy Statement, the relevant portions of which are incorporated herein by reference.

Item 5.07 Submission of Matters to a Vote of Security Holders.

At the Annual Meeting, the proposals set forth below were submitted to a vote of the Company's stockholders. The final voting results are as follows:

For more information about the foregoing proposals, see the Proxy Statement, the relevant portions of which are incorporated herein by reference. The results reported above are final voting results. No other matters were considered or voted upon at the meeting.

Item 9.01 Financial Statements and Exhibits.