KOPIN CORP - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Kopin Corporation (KOPN) on January 9, 2026, covering events that occurred on January 5, 2026. The filing details significant equity compensation awards granted to the Company's Chief Executive Officer and Chief Operating Officer under the 2020 Equity Incentive Plan.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial metric disclosed is the stock price context for the option grant:
- Option Exercise Price: $3.21 per share.
- Premium to Market: The exercise price represents a 25% premium to the closing price of the Company's common stock on January 5, 2026.
Material Changes
The primary material change reported is the approval and grant of new equity awards to senior executives:
- Michael Murray (CEO and Chairman):
- Granted 583,658 shares of restricted stock.
- Granted an option to purchase 724,638 shares of common stock.
- Vesting Terms: Restricted stock cliff vests four years from the grant date. Options vest quarterly over four years.
- Conditions: Subject to continued employment and compliance with the employment agreement. Includes a double-trigger change-in-control provision.
- Paul Baker (COO):
- Granted 72,000 shares of restricted stock.
- Vesting Terms: 34% vests on December 10, 2026; 33% on December 10, 2027; and 33% on December 10, 2028.
- Conditions: Subject to continued service on the applicable vesting dates.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or discussion of general risks and contingencies. The only contingency noted is the requirement for continued employment for the equity awards to vest and the specific double-trigger change-in-control provision applicable to the CEO's awards.
Investor Verification Checklist
- Verify the closing stock price on January 5, 2026, to confirm the $3.21 exercise price represents a 25% premium.
- Review the Company's 2020 Equity Incentive Plan to understand the full terms of the restricted stock and options.
- Monitor future filings for the impact of these grants on the Company's share count and potential dilution.
- Check for any subsequent filings regarding the employment agreements of Mr. Murray and Mr. Baker.