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USBC, Inc. (NYSE American:USBC), a company with a market capitalization of $423 million, announced Tuesday that its board of directors approved the repricing of certain outstanding stock options and the issuance of new equity grants to executives and directors. The decision comes as the stock has fallen nearly 90% over the past year, according to InvestingPro data. The information is based on a press release statement filed with the Securities and Exchange Commission.
According to the filing, the board approved a repricing of 48,620,000 outstanding stock options originally granted on August 6, 2025, under the company’s Amended and Restated 2021 Equity Incentive Plan. The exercise price for these options was reduced from $2.45 to $1.10 per share, which matches the closing price of USBC’s common stock on Tuesday. The repriced options include those held by named executive officers and directors.
Among the executives impacted, Chief Financial Officer Kitty Payne had 1,790,000 options repriced, Chief Operating Officer Kirk Chapman had 7,140,000 options repriced, and Director and Vice Chair Linda Jenkinson had 4,760,000 options repriced.
The board also approved the issuance of new ten-year stock options totaling 55,030,000 shares at an exercise price of $1.10 per share. The options will vest 25% between the three-month and one-year anniversary of the grant date, with the remainder vesting in quarterly installments over the following three years, contingent on continued service with the company.
Of the new grants, Payne received 1,960,000 options, Chapman received 7,860,000 options, and Jenkinson received 5,240,000 options.
Both the repricing and new grants were made under the company’s standard equity incentive agreements.
USBC, Inc. is incorporated in Nevada and its common stock is traded on the NYSE American exchange under the symbol USBC. InvestingPro analysis indicates the company faces financial challenges, with weak gross profit margins and short-term obligations exceeding liquid assets. Subscribers can access 11 additional ProTips and a comprehensive research report covering USBC’s financial health, valuation, and growth prospects.
In other recent news, USBC, Inc. announced that shareholders approved key proposals at the company’s annual meeting, including the election of all eight board nominees and an amendment to its equity incentive plan. Each board nominee received significant support, with votes in favor reaching at least 364.8 million. Additionally, USBC has increased its at-the-market equity offering program to $14.5 million, allowing the company to offer and sell shares of its common stock through JonesTrading Institutional Services LLC. This move is part of a shelf registration statement initially filed for up to $18 million. Formerly known as Know Labs, Inc., the company also held a special meeting where shareholders approved a significant increase in authorized shares, from 7.5 million to 750 million. These developments, including the equity plan amendment and increased share authorization, reflect the company’s strategic adjustments to enhance its financial flexibility.
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