Form 4: Damon Inc. Former CEO Converts Multiple Voting Shares to Common Shares Following Resignation
SEC Form 4 Filing
Former CEO and Chairman of Damon Inc., Damon Jay Giraud, converted his multiple voting shares into common shares after resigning from all officer and director positions.
Summary
- Damon Jay Giraud, the former CEO and Chairman of Damon Inc., has converted his multiple voting shares into common shares.
- This conversion occurred on December 4, 2024, following his resignation from all officer and director positions with the company.
- The conversion involved 10,142 multiple voting shares held directly and 1,381,039 multiple voting shares held indirectly through Lime Dragon Holdings Corp.
- These multiple voting shares were converted on a one-for-one basis into common shares.
- Additionally, Mr. Giraud is deemed to beneficially own 2,211 common shares held by his common law spouse, Amber Spencer, who is the Chief Marketing Officer of the company.
Sentiment
Score: 5
Explanation: The document is a routine SEC filing detailing a share conversion following an executive's resignation. It is neutral in sentiment.
Industry Context
This is a standard SEC Form 4 filing related to changes in beneficial ownership, which is common when a company's executive or director changes their holdings.
Comparison to Industry Standards
- Form 4 filings are a standard requirement for company insiders, such as officers and directors, to report changes in their beneficial ownership of company securities.
- The conversion of multiple voting shares to common shares is a common practice when an executive leaves a company, as multiple voting shares are often tied to their role.
- The reporting of indirect ownership through entities like Lime Dragon Holdings Corp. and through a spouse is also standard practice in these filings.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| CEO and Chairman | Damon Jay Giraud | NA | 12/04/2024 | Resignation |
Stakeholder Impact
- The conversion of shares may have a minor impact on the overall share structure of the company.
- The resignation of the CEO and Chairman may lead to changes in the company's strategic direction.
Key Dates
| Date | Description |
|---|---|
| 12/04/2024 | Date of the share conversion and Damon Jay Giraud's resignation from all officer and director positions. |
| 12/06/2024 | Date of signature of the form by Bal Bhullar, by Power of Attorney. |
Keywords
Damon Inc., Damon Jay Giraud, Multiple Voting Shares, Common Shares, Share Conversion, Resignation, Lime Dragon Holdings Corp., Beneficial Ownership
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