Current Report Filing (8-k)
August 16 2022 - 6:11AM
Edgar (US Regulatory)
0001498148
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0001498148
2022-08-14
2022-08-14
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iso4217:USD
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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): August 14,
2022
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. |
Background
On
April 14, 2021, we adopted the 2021 Incentive Stock Plan (the “2021 Plan”) 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 original 2021 Plan authorizes the granting of stock options, restricted stock, restricted stock units,
stock appreciation rights and stock awards with a maximum of 5,000,000 shares of common stock that may be issued under the 2021 Plan.
Amendment
to the 2021 Plan
On
August 14, 2022, our Board of Directors and Consenting Shareholder, Steven Reinharz, approved an Amendment to the Plan
amending Section 5(b) of the 2021 Plan to provide for the maximum number of common stock shares applicable to the Plan from 5,000,000
in the original April 14, 2021 Plan to 100,000,000 in the August 14, 2022 Amended Plan.
The foregoing description of the 2021 Plan and the
August 14, 2022 Amended Plan is qualified in its entirety by reference to the provisions of the 2021 Plan and the August 14,
2022 Amendment, which are incorporated by reference. The August 14, 2022 Amendment is filed herein as Exhibit 10.2 to this
current report on Form 8-K.
Unless
otherwise indicated, the following exhibits are filed herewith:
ITEM
8.01. OTHER EVENTS
On
August 16, 2022, we will be issuing a press release titled: “AITX Announces Employee Stock Ownership Plan (ESOP) Award”,
which press release is attached hereto as Exhibit 99.1.
The
information in this Current Report on Form 8-K with respect to Item 8.01 (including Exhibit 99.1) is being furnished pursuant to Item
8.01 of Form 8-K and shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934,
as amended (“Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated
by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act. This current report on Form 8-K (including
Exhibit 99.1) will not be deemed an admission as to the materiality of any information contained herein.
*filed
herein
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:
August 16, 2022 |
ARTIFICIAL
INTELLIGENCE TECHNOLOGY SOLUTIONS INC. |
|
|
|
|
|
/s/ Steven
Reinharz |
|
Name: |
Steven Reinharz |
|
Title: |
President
|
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