SkillSoft seeks to add shares to options pool
In a proxy report issued Monday, SkillSoft said it is considering adding almost a million and a half shares to its reserve for its executives’ compensation portfolio.
The action will be voted on at its shareholders meeting, Sept. 28.
SkillSoft said in the proxy that, if approved, 1.4 million shares of stock reserved for issue under its 1996 supplemental stock plan would be decreased, and an equal number of ordinary shares would be increased and held in reserve under the 2002 share option plan for executives. This would bring the number of shares available in the 2002 plan for future issuance to executives to 8,850,000.
These shares were due to expire in October 2006 under the 1996 plan.
Securities filings also state this move will not increase the total number of shares that the company has reserved for future grants under its equity plans.
As of July 31, approximately 950 people were eligible to receive options under the 2002 plan, including SkillSoft’s five executive officers as well as other employee directors and consultants.
SkillSoft, which is registered in Dublin, Ireland, with a U.S. sales headquarters in Nashua, provides of comprehensive e-learning content and technology products. — CINDY KIBBE