Osisko Development Announces Annual Grant of Stock Options

Source: www.gulfoilandgas.com 7/1/2022, Location: North America

Osisko Development Corp. announces that, as part of the Company’s annual compensation review, the Board of Directors has authorized the grant of an aggregate of 765,500 incentive stock options (the “Options”) to officers of the Company. The Options have an exercise price of $6.49 per share, are exercisable for a period of five-years from the date of grant and will vest as follows: one-third on the date of grant, one-third on the first anniversary of the date of grant and one-third on the second anniversary of the date of grant. The Options were granted in accordance with the Company’s Stock Option Plan.

In addition, the Board of Directors authorized the grant of an aggregate 584,300 restricted share units (“RSUs”) to officers of the Company and an aggregate 96,200 deferred share units (“DSUs”) to independent directors of the Company. The RSUs awarded will vest on the third anniversary of the grant date and the DSUs will not vest until such time as the recipient independent Director ceases to be a Director of the Company. The RSUs and DSUs were granted in accordance with the Company’s RSU Plan and DSU Plan. Complete details regarding each of the Stock Option Plan, RSU Plan and DSU Plan are available on the Company’s website.

The Company is pleased to announce the appointment of Mr. Laurence Farmer as General Counsel, Vice President Strategic Development and Corporate Secretary with effect as at July 1, 2022. Mr. Farmer is joining the Company from Osisko Gold Royalties Ltd (“Osisko Gold Royalties”), where he held the position of Senior Counsel. Prior to his role at Osisko Gold Royalties, Mr. Farmer worked in investment banking at RBC Capital Markets in London and, before that, practiced as a corporate lawyer with Norton Rose Fulbright LLP in London, England and Montréal, Canada. With Mr. Farmer’s appointment, Mr. André Le Bel will step down as Corporate Secretary of the Company and continue his duties with his employer Osisko Gold Royalties. The Company would like to thank Mr. Le Bel for his service.


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