SDR Drone enters consulting agreement and adopts new stock incentive plan
SDR Drone enters consulting agreement and adopts new stock incentive plan
SDR Drone, Inc. (OTC:SDRC), a Florida-based aircraft manufacturer, reported several corporate developments in a press release statement filed with the Securities and Exchange Commission.
On October 22, the company entered into a consulting agreement with SJT Capital LLC. Under the agreement, SJT Capital will provide SDR Drone with strategic and capital markets advisory services, including guidance on public market positioning and a potential listing on a national securities exchange. SJT Capital will also introduce SDR Drone to investment banks, broker-dealers, and other financial institutions, but will not solicit investors or negotiate financing terms.
As compensation, SDR Drone will issue 250,000 shares of common stock to SJT Capital, fully earned as of the agreement’s effective date. Additional shares may be issued upon certain milestones, including 50,000 shares if SDR Drone signs an engagement letter with a broker-dealer introduced by SJT Capital, and 200,000 shares if the company’s stock is approved for listing on the New York Stock Exchange, NYSE American, or Nasdaq Stock Market, provided these milestones occur during the agreement term or within twelve months after it ends. The agreement runs through June 27, 2027, and includes customary confidentiality and termination provisions.
The company’s board of directors also approved the 2026 SDR Drone, Inc. Stock Incentive Plan, effective October 22. The plan reserves 12,000,000 shares of common stock for issuance as stock, restricted stock, or nonqualified stock options to employees, officers, directors, and consultants. Options may not be repriced without shareholder approval, and awards cannot be made after December 31, 2029. Options granted under the plan will generally vest in three equal installments over three years, subject to continued service. The board authorized the filing of a registration statement to register shares reserved under the plan.
Additionally, SDR Drone reported that the Securities Division of the Office of the South Carolina Attorney General issued a letter on October 22 confirming that payments required by a 2018 consent order have been made. The company will continue to pursue qualification of its offering statement on Form 1-A.
All information is based on a press release statement filed with the SEC.