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~Firm amends proxy to acknowledge newest governance tendencies and institutional shareholder voting recommendations~
VANCOUVER, British Columbia — Greenlane Renewables Inc. (“Greenlane”) (TSX: GRN / FSE: 52G) as we speak introduced that it has appointed a present director of the Firm, Ms. Elaine Wong, to the place of Lead Impartial Director. Ms. Wong will stay a member of each the Audit and the Company Growth Committee. The Firm has additionally amended its Omnibus Incentive Plan to restrict the worth of grants to non-employee director awards.
The Firm’s Omnibus Incentive Plan is being submitted for shareholder approval on the Firm’s annual normal assembly on June 23, 2021. The Board of Administrators has now permitted the inclusion of an annual worth restrict of $150,000 on the discretion to grant a non-employee director equity-based incentives (RSUs) pursuant to the Omnibus Incentive Plan. This Plan doesn’t allow the grant of inventory choices to non-employee administrators, so the restrict for choices is ready at ‘Nil’. This restrict is being added to mirror greatest observe in equity-based compensation plans that embrace non-employee administrators.
Within the proxy, Part 2.5 (1) subsection (e), as amended now reads:
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(1) However some other provision of this Plan, and topic to relevant Change Insurance policies, the utmost variety of Frequent Shares that:
(e) could also be issuable to anybody Non-Worker Director pursuant to annual grants of Award(s) shall not exceed a price of $150,000 (primarily based on the Honest Market Worth); supplied additional that no quantity of such worth shall be comprised of Choices.
About Greenlane Renewables
Greenlane Renewables is a number one international supplier of biogas upgrading methods which can be serving to decarbonize pure fuel. Our methods produce clear, low-carbon and carbon-negative renewable pure fuel from natural waste sources together with landfills, wastewater therapy crops, dairy farms, and meals waste, appropriate for both injection into the pure fuel grid or for direct use as car gasoline. Greenlane is the one biogas upgrading firm providing the three essential applied sciences: water wash, stress swing adsorption, and membrane separation. With over 30 years business expertise, patented proprietary expertise, and over 125 biogas upgrading methods bought into 19 international locations worldwide, together with the world’s largest biogas upgrading facility, Greenlane is impressed by a dedication to serving to waste producers, fuel utilities or venture builders flip a low-value product right into a high-value low-carbon renewable useful resource. For additional info, please go to www.greenlanerenewables.com.
Incite Capital Markets
Eric Negraeff / Darren Seed
Brad Douville, President & CEO, Greenlane Renewables