United States
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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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): June 14, 2012
CHINA GREEN AGRICULTURE, INC.
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(Exact name of Registrant as specified in charter)
| Nevada | 001-34260 | 36-3526027 |
| (State or other jurisdiction | (Commission File No.) | (IRS Employer |
| of Incorporation) | Identification No.) |
3rd Floor, Borough A, Block A.
No.181 South Taibai Road
Xi’an, Shaanxi Province
People’s Republic of China 710065
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (011)-86-29-88266368
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 (17CFR230.425)
¨ Soliciting material pursuant to Rule14a-12 under the Exchange Act (17CFR240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c))
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(e) On June 14, 2012, the Compensation Committee (the “Committee”) of the Board of Directors of China Green Agriculture, Inc., a Nevada corporation (the “Company”), approved the grant of restricted stock to certain executive officers and directors of the Company under the Company’s 2009 Equity Incentive Plan.
Under the 2009 Equity Incentive Plan of the Company, effective June 14, 2012, the Committee granted (i) 250,000 shares of restricted stock to Mr. Tao Li, the Company’s Chairman and Chief Executive Officer (the “CEO”), (ii) 150,000 shares of restricted stock to Mr. Ken Ren, the Company’s Chief Financial Officer (the “CFO”), and (iii) 15,000 shares of restricted stock to each of Ms. Yiru Shi, Mr. Yizhao Zhang and Mr. Lianfu Liu, the Company’s independent directors (the “Stock Grants”).
The Stock Grants all vest in three installments on June 30, September 30, and December 31, 2012, with 150,000 shares vesting first and 50,000 shares vesting on each of the other two vesting dates to the CEO, 120,000 shares vesting first and 15,000 shares vesting on each of the other two vesting dates to the CFO and 10,000 shares vesting first and 2,500 shares vesting on each of the other two vesting dates to each of the three independent directors. The vest of the restricted shares is conditioned on the individuals being employed by the Company at the time of the vest.
In addition, the Committee delegated the CEO to allocate a total of 555,000 shares of restricted shares to key employees. The grant of such shares will not be effective until the CEO makes such allocation of the shares.
The restricted stock was granted pursuant to the Company’s Form of Restricted Stock Grant Agreement, filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on January 11, 2010.
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: June 18, 2012 | CHINA GREEN AGRICULTURE, INC. | |
| (Registrant) | ||
| By: | /s/ Tao Li | |
| Name: Title: |
Tao Li President and Chief Executive Officer | |