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10-K
ICONIX BRAND GROUP, INC. filed this Form 10-K on 03/28/2019
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10. Stockholders’ Equity

2016 Omnibus Incentive Plan

On November 4, 2016, the Company’s stockholders approved the Company’s 2016 Omnibus Incentive Plan (“2016 Plan”).  The 2016 Plan replaced and superseded the Company’s Amended and Restated 2009 Equity Incentive Plan.  Under the 2016 Plan, all employees, directors, officers, consultants and advisors of the Company, including those of the Company’s subsidiaries, are eligible to be granted common stock, options or other stock-based awards.  At inception, there were approximately 0.2 million shares of the Company’s common stock available for issuance under the 2016 Plan.  The 2016 Plan was amended at the 2017 Annual Meeting of Stockholders to increase the number of shares available under the plan by 0.19 million shares.     

Shares Reserved for Issuance

On May 7, 2018, the Company filed a Form S-8 to register the 0.19 million shares available for issuance under the 2016 Plan that were approved at the 2017 Annual Meeting of Stockholders. At December 31, 2018, 0.53 million common shares were reserved for issuance under the 2016 Plan.

Amendment of Certification of Incorporation

At the Special Meeting of Stockholders of the Company held on April 26, 2018, the Company’s stockholders approved an amendment to the Company’s Certificate of Incorporation to increase the number of authorized shares of its common stock, $.001 par value per share, from 150 million to 260 million.

Reverse Stock Split

On March 14, 2019, the Company effected a Reverse Stock Split of its common stock.  No fractional shares were issued in connection with the Reverse Stock Split.  Stockholders who otherwise would have been entitled to receive fractional shares of common stock had their holdings rounded up to the next whole share.  Unless the context otherwise requires, all share and per share amounts in this annual report on Form 10-K have been adjusted to reflect the Reverse Stock Split.  Refer to Note 22 for further details.

Stock Options and Warrants

Stock options outstanding and exercisable as of December 31, 2018 were issued under previous equity incentive plans of the Company.  There was no compensation expense related to stock option grants or warrant grants during FY 2018 or FY 2017 as all prior awards have been fully expensed.

Summaries of the Company’s stock options, warrants and performance related options activity, and related information for FY 2018 and FY 2017 are as follows:

 

Stock Options

 

Options

 

Options

 

 

Weighted Average

Exercise Price

 

Outstanding at January 1, 2017

 

 

2,000

 

 

$

153.50

 

Granted

 

 

 

 

 

 

Canceled

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

Expired/Forfeited

 

 

 

 

 

 

Outstanding at December 31, 2017

 

 

2,000

 

 

$

153.50

 

Granted

 

 

 

 

 

 

Canceled

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

Expired/Forfeited

 

 

(500

)

 

 

99.20

 

Outstanding at December 31, 2018

 

 

1,500

 

 

$

171.60

 

Exercisable at December 31, 2018

 

 

1,500

 

 

$

171.60

 

 

The weighted average contractual term (in years) of options outstanding and exercisable as of December 31, 2018 and 2017 were 0.73 and 1.50, respectively.

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