LOS ANGELES, CA and NEWARK, NJ – January 10, 2024: IDW Media Holdings, Inc., (the “Company” or “IDW”) (OTC: IDWM), an integrated media company, announced today two equity grants to Davidi Jonas, the Company’s Chief Executive Officer. The equity grants were each approved by the Company’s Board of Directors, Compensation Committee, and Corporate Governance and Nominating Committee.
On January 7, 2024, pursuant to a Restricted Stock Agreement the Company granted 2,727,273 restricted shares of the Company’s Class B common stock under the Company’s 2019 Stock Option and Incentive Plan. Such shares shall vest, contingent on Mr. Jonas remaining in continuous service to the Company, in substantially equal amounts on March 31, 2024, March 31, 2025, and March 31, 2026.
In addition, on January 7, 2024, the Company granted to Mr. Jonas, incentive stock options to acquire an aggregate of 1,545,454 shares of the Company’s Class B common stock at a price per share of $0.4342 (the closing price on the trading day preceding the grant). The options become exercisable between January 2024 and January 2030 and shall vest incrementally, subject to Mr. Jonas remaining in continuous service, upon the Company’s market capitalization reaching $25 million, $50 million, and $110 million.
About IDW Media Holdings:
IDW (OTC: IDWM) is an integrated media company providing compelling stories and characters for global audiences. Our IDW Publishing and IDW Entertainment businesses acquire IP for holistic franchise development across comics and graphic novels, television and other entertainment platforms and leverage established stories from our creative partners.
Forward-Looking Statements:
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our Annual Report on Form 10-K for the fiscal year ended October 30, 2022 (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), and subsequent reports filed with the SEC and OTC Markets. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
Contact:
David Jonas
IDW Media Holdings, Inc.
davidi.jonas@idwmh.com