Summary by Futu AI
Riot Platforms, Inc. (Riot) has announced a series of amendments to its 2019 Equity Incentive Plan, aimed at increasing the number of shares available for issuance under the plan to attract, motivate, retain, and reward employees and other eligible persons. The First Amendment, effective November 12, 2020, added 3,500,000 shares to the reserve. The Second Amendment, effective October 19, 2021, added another 4,400,000 shares. The Third Amendment, effective July 27, 2022, further increased the reserve by 10,000,000 shares. The Fourth Amendment, effective June 27, 2023, added 4,000,000 shares. The most recent, the Fifth Amendment, effective December 14, 2023, added an additional 13,000,000 shares, bringing the total to 38,500,000 shares available for incentives. These amendments were approved by Riot's Board of Directors and stockholders on the respective effective dates. The amendments are part of Riot's strategy to ensure competitive compensation for its workforce and align their interests with stockholder value.
