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Charles & Colvard Ltd. (NASDAQ:CTHR) announced Monday that its board’s compensation committee has approved the Fiscal 2026 Executive Incentive Program, effective July 1, 2025. The program authorizes the issuance of up to 1,338,000 restricted stock units (RSUs) to directors, employees, and key consultants, as disclosed in a press release statement and detailed in a filing with the Securities and Exchange Commission.
Under the new program, participants may choose to receive their awards as either a combination of 65% restricted stock and 35% cash, or as 100% restricted stock. Grantees must make their election within one week after the company files its Form 10-K for fiscal year 2025. Changes to this election for future tranches are permitted only if requested at least three months in advance and may be denied if the grantee possesses material nonpublic information.
The RSUs and, where applicable, cash awards vest quarterly, contingent on the recipient’s continued service through the end of each applicable quarter. The cash component does not confer any ownership rights in the company.
Specific grants under the program include 480,000 units for Executive Chairman James Tu, 240,000 units for Executive Director Ruten Bhanderi, and 24,000 units each for independent directors Anne Butler and Neal Goldman, all vesting quarterly over one year. The Chief Executive Officer is granted 240,000 units, the Chief Financial Officer 102,000 units, and each Vice President 102,000 units, with these awards vesting quarterly over three years.
The Fiscal 2026 Executive Incentive Program replaces all prior management incentive plans for periods beginning on or after July 1, 2025.
This information is based on a press release statement and the company’s Form 8-K filed with the SEC.
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