Revolve Renewable Power Corp. (“Revolve” or the “Company”) a, North American owner, operator and developer of renewable energy projects, announces the grant of Deferred Share Units (“DSUs”) to Company’s directors effective March 1, 2024. A total of 1,140,421 DSUs have been granted under the Company’s omnibus equity incentive plan adopted on July 6, 2022 (the first and only DSUs granted under this plan). Each DSU entitles the holder to receive one share of the Company, or in certain circumstances a cash payment equal to the value of one share of the Company, at the time the holder ceases to be a director of the Company.
The DSU’s vest one year from the date of grant and have been granted for the following periods:
• A total of 48,323 DSUs for the third quarter 2022 (Q3 2022) and fourth quarter 2022 (Q4 2022) at a deemed price of C$0.50 per share;
• A total of 263,947 DSUs for Financial Year 2023 (FY 2023) at a deemed price of C$0.50 per share; and
A total of 828,151 DSUs for the first quarter 2024 (Q1 2024) and second quarter (Q2 2024) at prices of C$0.33 per share and C$0.29 per share, respectively.
