Current Report Filing (8-k)
April 20 2021 - 4:21PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): April 20, 2021 (April 14, 2021)
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC.
|
(Exact
name of registrant as specified in its charter)
|
Nevada
|
|
000-55079
|
|
27-2343603
|
(State
or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS
Employer
Identification No.)
|
1
East Liberty, 6th Floor
Reno,
NV 89501
|
(Address
of principal executive offices)
|
702-990-3271
|
(Registrant’s
telephone number, including area code)
|
Not
Applicable
|
(Former
name or former address, if changed since last report.)
|
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
Symbol(s)
|
|
Name
of each exchange on which registered
|
N/A
|
|
N/A
|
|
N/A
|
When
used in this Current Report on Form 8-K, unless otherwise indicated, the terms the “Company,” “our,” or
“we” refer to Artificial Intelligence Technology Solutions Inc. and its subsidiaries.
Item
5.02
|
Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
|
Incentive
Stock Plan
On
April 14, 2021, the Shareholders of Series E Preferred Stock and the Board of Directors of our Company (“Board”)
approved and adopted the 2021 Incentive Stock Plan (the “2021 Plan”).
The
purpose of the 2021 Plan is to promote the success of the Company by authorizing incentive awards to retain Directors,
executives, selected Employees and Consultants, and reward participants for making major contributions to the success
of the Company. The 2021 Plan authorizes the granting of stock options, restricted stock, restricted stock units, stock
appreciation rights and stock awards. A total of five million (5,000,000) shares of common stock may be issued under the 2021
Plan. All awards under the 2021 Plan, whether vested or unvested, are subject to the terms of any recoupment, clawback or
similar policy of the Company in effect from time to time, as well as any similar provisions of applicable law, which could
in certain circumstances require repayment or forfeiture of awards or any shares of stock or other cash or property received
with respect to the awards, including any value received from a disposition of the shares acquired upon payment of the
awards. The 2021 Plan will be administered by the Board or any Committee authorized by the Board, if applicable, which will
have the sole authority to, among other things: construe and interpret the 2021 Plan; make rules and regulations relating to
the administration of the 2021 Plan; select participants; and establish the terms and conditions of awards, all in accordance
with the terms of the 2021 Plan. The 2021 Plan will remain in effect until April 14, 2031, unless sooner terminated by the
Board. Termination will not affect awards then outstanding.
The
foregoing description of the 2021 Plan is qualified in its entirety by reference to the provisions of the 2021 Plan, which is
attached as Exhibit 10.1 to this current report on Form 8-K.
Unless
otherwise indicated, the following exhibits are filed herewith:
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Date:
April 20, 2021
|
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC.
|
|
|
|
/s/
Steven Reinharz
|
|
Name:
Steven Reinharz
|
|
Title:
President
|
Artificial Intelligence ... (PK) (USOTC:AITX)
Historical Stock Chart
From Aug 2024 to Sep 2024
Artificial Intelligence ... (PK) (USOTC:AITX)
Historical Stock Chart
From Sep 2023 to Sep 2024