The Westaim Corporation Announces Grants of Security-Based Compensation
The Westaim Corporation (“Westaim” or the “Company”) announces that it has granted an aggregate of 39,658 restricted share units (“RSUs”)under the Company’s long-term equity incentive plan to both employees and officers of Westaim, which RSUs vest in tranches over a multi-year period based on time-based vesting, subject to continued service through the applicable vesting date.
The Company also announces it completed the process to grant all of the 1,578,258 stock options (“Options”)and 35,588 of the RSUs previously announced by the Company on December 29, 2025.
The Company relied on section 5.5(b) of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") as the exemption from the formal valuation requirements of MI 61-101 in respect of the grant of RSUs and Options to certain "related parties" (as such term is defined under MI 61-101) of the Company, as the common shares of the Company are not listed on a specified market under MI 61-101. The Company relied on section 5.7(a) of MI 61-101 as the exemption from the minority approval requirements of MI 61-101 in respect of the grant of RSUs and Options to certain "related parties" of the Company as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, such issuances exceeded 25% of the Company's market capitalization.
