Document:

ex_187542.htm

Exhibit 4.3

 

 

 

Description of the Registrant’s Securities

Registered Pursuant to Section 12 of the 

Securities and Exchange Act of 1934

 

 

As of March 31, 2021, Mesa Laboratories, Inc. (the “Company,” “we,” or “our”) had one class of securities, our common stock, registered under Section 12 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

The following summary of certain terms of our capital stock does not purport to be complete and is subject to, and qualified in its entirety by, our Restated Certificate of Incorporation (the “Certificate of Incorporation”), our Amended and Restated Bylaws (the “Bylaws”), the forms of which are included as exhibits to the Annual Report on Form 10-K of which this Exhibit 4(d) is also included, as well as the relevant portions of the Colorado Business Corporation Act.

 

Our authorized capital stock consists of 25,000,000 shares of common stock, no par value, and 1,000,000 shares of preferred stock, no par value.

 

Common Stock

 

As of May 26, 2021, there were 5,140,981 shares of common stock issued and outstanding.

 

Voting

The holders of our common stock are entitled to one vote per share on all matters to be voted upon by the stockholders.

 

Dividends

The holders of common stock are entitled to receive ratably dividends, if any, as may be declared from time to time by the board of directors out of funds legally available for that purpose.

 

Liquidation Rights

In the event of our liquidation, dissolution or winding up, the holders of common stock are entitled to share ratably in all assets remaining after payment of liabilities.

 

Other Matters

The common stock has no preemptive or conversion rights or other subscription rights. There are no redemption or sinking fund provisions applicable to the common stock. Issued shares of common stock for which appropriate consideration have been received are non-assessable and shareholders are not liable for the debts or other obligations of the company.

 

Preferred Stock

 

As of May 26, 2021, there were no shares of preferred stock issued and outstanding.

 

Our Articles of Incorporation authorize our board of directors, subject to any limitations prescribed by law, without further stockholder approval, to establish and to issue from time to time one or more classes or series of preferred stock, no par value per share, covering up to an aggregate of 1,000,000 shares of preferred stock. Each class or series of preferred stock will cover the number of shares and will have the powers, preferences, rights, qualifications, limitations and restrictions determined by the board of directors.

 

Certain Provisions of Our Articles of Incorporation and Bylaws and Colorado Law

 

Certain provisions of our Articles of Incorporation and our Bylaws could make our acquisition by a third party, a change in our incumbent directors, or a similar change of control more difficult. These provisions, which are summarized below, may discourage certain types of takeover practices and inadequate takeover bids. These provisions are also designed to encourage persons seeking to acquire control of us to first negotiate with our board of directors. These provisions of our Articles of Incorporation and Bylaws may also be significant because they define certain of the aspects of our corporate governance.

 

Election of Directors.    Our Bylaws provide that the board of directors may increase the size of our board and designate the directors to fill the vacancies.

 

No Cumulative Voting.    Our Articles of Incorporation provide that no shareholder is permitted to cumulate its votes in the election of directors.

 

Advance Notice Bylaws.    Our Bylaws require a shareholder seeking to nominate a candidate for election as director or to propose other business at a meeting of shareholders to provide us notice of the proposed candidate or business within a specified period in advance of the meeting.

 

Exclusive Forum.    Our Bylaws provide that unless the Company consents in writing to the selection of an alternative forum, the sole and exclusive forum for any of the following shall be a state court within the State of Colorado, or, if no state court located within the State of Colorado has jurisdiction, the federal district court for the District of Colorado: (i) any claim that is based upon a violation of a duty under the laws of Colorado by a current or former director, officer, or shareholder in such capacity, (ii) any derivative action or proceeding brought on behalf of the Company, (iii) any action asserting a claim arising pursuant to any provision of the Colorado Business Corporation Act, the Articles of Incorporation or the Bylaws, (iv) any action asserting a claim governed by the internal affairs doctrine that is not included in (i) through (iii).

 

Limitations on Liability.    Our Articles of Incorporation provide that no person who is or was a director will be personally liable to us or to our shareholders for monetary damages for breach of fiduciary duty as a director, so long as such director acted in good faith, subject to certain exceptions under the Colorado Business Corporation Act.

 

We have also obtained policies of directors' and officers' liability insurance. These policies insure our directors and officers against the cost of defense, settlement or payment of a judgment under certain circumstances. The existence of such limitation on liability, indemnification and insurance may impede a change of control of us to the extent that a hostile acquirer seeks to litigate its contest for control with our directors and officers.

 

Transfer Agent

 

The transfer agent for our common stock is Computershare Trust Company, N.A.

 

Listing

 

Our common stock is quoted on the Nasdaq Global Market, or Nasdaq under the trading symbol "MLAB."ex_251804.htm

Exhibit 10.3.6

 

 

MESA LABORATORIES INC.

 

RESTRICTED STOCK UNIT AGREEMENT

 

(Pursuant to the 2014 Equity Plan)

 

Version 1.2; February 4, 2019 (amended October 28, 2020)

 

 

Mesa Laboratories, Inc., a Colorado corporation (the “Company”) hereby agrees to award to the recipient named below (the “Recipient”) restricted stock units over the number of shares of Common Stock of the Company (the “Shares”) set forth as the “Award” in accordance with and subject to the terms, conditions and restrictions of this Restricted Stock Unit Agreement (the “Agreement”). The Award shall settle as Shares, but until such settlement, the Award will be denominated in restricted stock units. The Shares awarded will be released to the Recipient on the date set forth below (the “Release Date”) if the conditions described in this Agreement are satisfied. Such Award will be made under the terms of the Mesa Laboratories, Inc. 2014 Equity Plan (the “Plan”).

 

 

	
			Name of Recipient:

				 
	
			Award:

				
			XXX Shares

			
	
			Award Date:

				 
	
			Current Value of Award:

				
			$

			
	
			Vesting Dates:

				
			As detailed below

			
	
			Release Date:

				
			Next business day following the applicable vesting date.

			
	
			Number of Shares Vesting

				
			Date of Vesting

			
	 	 
	 	 
	 	 
	 	 
	 	 

 

 

Section 1. Grant of Restricted Stock Unit

 

(a) This Award is in the form of restricted stock units that settle in Shares at the Release Date. If all of the conditions set forth in this Agreement are satisfied, the Shares will be released to the Recipient as soon as administratively possible following the Release Date. If these conditions are not satisfied, the Award shall be forfeited.

 

(b) Incorporation of Plan; Capitalized Terms. The provisions of the Plan are hereby incorporated herein by reference. Except as otherwise expressly set forth herein, this Agreement shall be construed in accordance with the provisions of the Plan, and any capitalized terms not otherwise defined in this Agreement shall have the definitions set forth in the Plan. The Compensation Committee shall have final authority to interpret and construe the Plan and this Agreement and to make any and all determinations thereunder and hereunder, and its decision shall be binding and conclusive upon the Recipient and his/her legal representative in respect of any matters arising under the Plan or this Agreement.

 

(c) In the event of any conflict between the terms and conditions stated in this Agreement and the terms and conditions of the Plan, the terms and conditions of the Plan shall govern.

 

Section 2. Terms and Conditions of Restricted Stock Unit

 

The grant of restricted stock units provided in Section 1(a) shall be subject to the following terms, conditions and restrictions:

 

(a) Ownership of Shares. Subject to the restrictions set forth in the Plan and this Agreement, the Recipient shall not possess any incidents of ownership of the Shares underlying the Award granted hereunder, including, without limitation, (i) the right to vote such Shares, and (ii) the right to receive any future dividends with respect to such Shares which may be declared and paid to holders of Common Stock by the Company in its sole discretion until after such future time that (x) the Award has vested as set forth above and (y) the Shares have been issued by the Company’s stock transfer agent in accordance with this Agreement.

 

(b) Dividends. Prior to the vesting of the Award and the subsequent issuance of the Shares by the Company’s stock transfer agent, the Recipient shall not be entitled to receive any dividends with respect to the Award (whether such dividends are paid in cash, stock or other property).

 

(c) Restrictions. The Award and any interest therein may not be sold, assigned, transferred, pledged, hypothecated or otherwise disposed of, except by will or the laws of descent and distribution, until such time as the Shares are vested and thereafter issued, according to the Agreement. Any attempt to dispose of any Awards in contravention of the above restriction shall be null and void and without effect.

 

(d) Termination of Services. In the event that the services of the Recipient as an employee, director, or officer of the Company or a Subsidiary shall be terminated for any reason (otherwise than for cause, as specifically defined below) prior to the vesting or lapsing of restrictions with respect to any portion of the Award granted hereunder, such portion of the Award of the Grantee shall be automatically cancelled immediately after termination on the date of termination.  So long as the Recipient shall continue to provide services to the Company or Subsidiary as an employee, director or officer, the Award shall not be affected by any change of duties or position.  

 

In the event the Recipient’s employment is terminated for cause while employed by the Company or a Subsidiary, all unvested Awards shall be cancelled immediately after termination on the date of termination, in addition to any other remedy which the Company may have. For purposes of this Section 2, the term “cause” shall include only the following acts committed by the Recipient while employed by the Company or a Subsidiary: (a) theft, bribery or fraud; (b) competing with the business of the Company, its operating groups or any other of the Company’s affiliates; (c) soliciting for employment any employees of the Company, its operating groups or any other of the Company’s affiliates; or (d) disclosing confidential information which is material to the Company and/or its affiliates.  

 

(e) Income Taxes. Except as provided in the next sentence, the Company shall withhold an amount equal to the taxes that the Company determines is required to withhold under applicable tax laws with respect to the Award (with such withholding obligation determined based on any applicable minimum statutory withholding rates), in connection with the vesting of the Award. In the event the Company cannot (under applicable legal, regulatory, listing or other requirements) satisfy such tax withholding obligation in such method, or the parties otherwise agree, then the Company shall satisfy such withholding by any one or combination of the following methods: (i) by requiring the Recipient to pay such amount in cash or check; or (ii) by deducting such amount out of any other compensation otherwise payable to the Recipient.

 

(f) Acceleration Upon Change of Control. Vesting upon a change of control shall be treated as described in Article 13.6 of the Plan.

 

(g) Adjustments upon Change in Capital Structure. Changes in Capital Structure will be treated in accordance to Article 14 of the Plan.

 

(h) Special Provisions. The terms of this Award, including those termination provisions described in Section 2(d) above, are subject to all provisions in any employment agreement that is in effect either at the time of the Award issuance or any vesting of the Award or the Recipient’s termination of services with the Company.

 

Section 3. Miscellaneous

 

(a) Notices. Any and all notices, designations, consents, offers, acceptances and any other communications provided for herein shall be given in writing and shall be delivered either personally or by registered or certified mail, postage prepaid, which shall be addressed, in the case of the Company, to the Chief Financial Officer of the Company at the principal office of the Company and, in the case of the Recipient, to the Recipient’s address appearing on the books of the Company or to the Recipient’s residence or to such other address as may be designated in writing by the Recipient. Notices may also be delivered to the Recipient, during his or her employment, through the Company’s inter-office or electronic mail systems.

 

(b) No Right to Continued Employment. Nothing in the Plan or in this Agreement shall confer upon the Recipient any right to continue in the employ of the Company, a Subsidiary or Affiliated Entity or shall interfere with or restrict in any way the right of the Company, a Subsidiary or Affiliated Entity, which is hereby expressly reserved, to remove, terminate or discharge the Recipient at any time for any reason whatsoever, with or without Cause and with or without advance notice.

 

(c) Bound by Plan. By signing this Agreement, the Recipient acknowledges that he/she has received a copy of the Plan and has had an opportunity to review the Plan and agrees to be bound by all of the terms and provisions of the Plan.

 

(d) Imposition of Other Requirements. If the Recipient relocates to another country after the Date of Grant, the Company reserves the right to impose other requirements on the Recipient’s participation in the Plan, to the extent the Company determines it is necessary or advisable in order to comply with local laws or to facilitate the administration of the Plan, and to require the Recipient to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing.

 

(e) Successors. The terms of this Agreement shall be binding upon and inure to the benefit of the Company, its successors and assigns, and the benefit of the Recipient and the beneficiaries, executors, administrators, heirs and successors of the Recipient.

 

(f) Invalid Provision. The invalidity or unenforceability of any particular provision hereof shall not affect the other provisions hereof, and this Agreement shall be construed in all respects as if such invalid or unenforceable provision had been omitted.

 

(g) Modifications. No change, modification or waiver of any provision of this Agreement shall be valid unless the same is in writing and signed by the parties hereto.

 

(h) Entire Agreement. This Agreement and the Plan contain the entire agreement and understanding of the parties hereto with respect to the subject matter contained herein and therein and supersede all prior communications, representations and negotiations in respect thereto.

 

(i) No Advice Regarding Agreement. The Company is not providing any tax, legal or financial advice, nor is the Company making any recommendations regarding the Recipient’s participation in the Plan, or the Recipient’s acquisition or sale of the underlying Shares. The Recipient is hereby advised to consult with his or her own personal tax, legal and financial advisors regarding his or her participation in the Plan before taking any action related to the Plan.

 

(j) Governing Law. This Agreement and the rights of the Recipient hereunder shall be construed and determined in accordance with and be governed by the laws of the State of Colorado.

 

(k) Insider Trading Restrictions/Market Abuse Laws. The Recipient acknowledges that the Recipient may be subject to insider trading restrictions and/or market abuse laws, which may affect the Recipient’s ability to acquire or sell shares of Common Stock under the Plan during such times as the Recipient is considered to have “inside information” regarding the Company (as defined by the laws in the Recipient’s country). Any restrictions under these laws or regulations are separate from and in addition to any restrictions that may be imposed under the Company’s insider trading policy. The Recipient acknowledges that it is his or her responsibility to comply with any applicable restrictions, and the Recipient is advised to speak to his or her personal advisor on this matter.

 

(l) Headings. The headings of the Sections hereof are provided for convenience only and are not to serve as a basis for interpretation or construction, and shall not constitute a part, of this Agreement.

 

(m) Counterparts. This Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

(n) Consent to Jurisdiction and Venue. Each of the Parties agrees that the venue of any suit, action or proceeding (including any counterclaim asserted therein) arising under this Agreement shall be exclusively in the State or Federal courts in the City and County of Denver, Colorado. Each of the Parties hereby waives any objection which it may have now or may hereafter have to the laying of the venue of any such suit, action or proceeding and irrevocably submits to the jurisdiction of such court in any suit, action or proceeding and waives any claim or defenses of inconvenient forum or lack of subject matter jurisdiction. In making the foregoing submission to jurisdiction, each Party expressly waives the benefit of any contrary provision of any law.

 

By Recipient’s signature and the signature of the Company’s authorized representative below, you and the Company agree that this award is granted under and governed by the terms and conditions of the Company’s 2014 Equity Plan and this Agreement, all of which are attached and made part of this document.

 

 

RECIPIENT         MESA LABORATORIES, INC.

 

 

Signed:                   Signed:                                                       

 

 

By:                  By: John Sakys

 

Its: Chief Financial Officer

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