UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
under the Securities Exchange Act of 1934
For the month of January 2022 (Report No. 5)
Commission file number: 001-39674
G MEDICAL INNOVATIONS HOLDINGS LTD.
(Translation of registrant’s name into English)
5 Oppenheimer St.
Rehovot 7670105, Israel
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulations S-T Rule 101(b)(7): ☐
CONTENTS
On January 12, 2022, G Medical Innovations Holdings Ltd. (the “Company) granted performance rights to certain of its directors and officers under its Global Equity Incentive Plan. Each performance right shall have a term of two years and shall vest and convert into Ordinary Shares of the Company on a 1:1 basis, subject to the Company achieving certain milestones.
| Grantee | | Total Performance Rights | | Vesting Milestone and Number of Ordinary Shares to be Issued |
| Ken Melani | | 200,000 | | 50% of the performance rights shall vest into Ordinary Shares upon the Company reaching a market capitalization of $75 million; 16.66% of the performance rights shall vest into Ordinary Shares upon the Company reaching a market capitalization of $100 million; 16.66% of the performance rights shall vest into Ordinary Shares upon the Company reaching a market capitalization of $125 million; and 16.66% of the performance rights shall vest into Ordinary Shares upon the Company reaching a market capitalization of $150 million. |
| Shuki Gleitman | | 100,000 | |
| Urs Wettstein | | 100,000 | |
| Zeev Rotstein | | 100,000 | |
| Yacov Geva | | 1,000,000 | |
| Kobi Ben Efraim | | 200,000 | |
| Oded Shahar | | 100,000 | |
| Benny Tal | | 100,000 | |
| Dror Nuriel-Roth | | 100,000 | |
In addition, on January 20, 2022, the Company granted additional performance rights to certain of its directors and officers under its Global Equity Incentive Plan. Each performance right shall have a term of five years and shall vest and convert into Ordinary Shares of the Company on a 1:1 basis, subject to the Company achieving certain milestones.
| Grantee | | Total Performance Rights | | Vesting Milestone and Number of Ordinary Shares to be Issued |
| Yacov Geva | | 1,500,000 | | 50% of the performance rights shall vest into Ordinary Shares upon the Company reaching a market capitalization of $175 million; and 50% of the performance rights shall vest into Ordinary Shares upon the Company reaching a market capitalization of $200 million; |
| Ken Melani | | 500,000 | |
| Urs Wettstein | | 75,000 | |
| Shuki Gleitman | | 75,000 | |
| Zeev Rotstein | | 75,000 | |
| Chanan Epstein | | 75,000 | |
| Kobi Ben Efraim | | 100,000 | |
| Oded Shahar | | 75,000 | |
| Benny Tal | | 50,000 | |
| Haim Buzaglo | | 75,000 | |
| Moran Moshe | | 50,000 | |
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, thereunto duly authorized.
| | G Medical Innovation Holdings Ltd. |
| | | |
| Date: January 31, 2022 | By: | /s/ Yacov Geva |
| | | Name: | Dr. Yacov Geva |
| | | Title: | Chief Executive Officer |
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