Current Report Filing (8-k)
29 September 2020 - 7:01AM
Edgar (US Regulatory)
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): September 24, 2020
BRIDGEWAY
NATIONAL CORP.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
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000-55505
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45-5523835
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(State
or Other Jurisdiction
of
Incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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1015
15th Street NW, Suite 1030
Washington,
DC 20005
(Address
of Principal Executive Offices and Zip Code)
Registrant’s
telephone number, including area code: (202) 846-7869
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:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Indicate
by check mark whether registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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Class
A Common Stock
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BDGY
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OTC
Pink
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Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
Bridgeway
National Corp. 2020 Management Cash Incentive Bonus Plan
On
September 24, 2020, the Board of Directors (the “Board”) of Bridgeway National Corp., a Delaware corporation, (the
“Company”) authorized a management incentive bonus plan (“Cash Incentive Plan”), effective as of
October 1, 2020, under which participants of such plan are eligible to receive cash bonus awards based on achievement by the Company
of certain net growth target objectives. All executive officers of the Company and other employees deemed eligible by the compensation
committee of the Board (the “Committee”) shall be eligible to participate in the Cash Incentive Plan. Pursuant to
the Cash Incentive Plan, the participation date for an eligible employee will be 90 days from the employee’s date of hire
or the date the Committee deems the participant eligible to participate in the Cash Incentive Plan. The Cash Incentive Plan provides
for a bonus pool, determined on an annual basis by the Committee, equal to 20% of the amount by which the Company’s book
value for the applicable fiscal year exceeds 106% of book value for the preceding fiscal year (the “Incentive Compensation
Amount”). The Incentive Compensation Amount shall be subject to a high-water mark.
The
description of the Cash Incentive Plan is not complete and is qualified in its entirety by reference to the full text of the Cash
Incentive Plan, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.1 and is incorporated herein by reference.
Bridgeway
National Corp. 2020 Equity Incentive Plan
On
September 24, 2020, the Board approved the adoption of the Bridgeway National Corp. 2020 Equity Incentive Plan (the “Equity
Plan”) pursuant to which incentive compensation and performance compensation awards may be provided to employees, directors,
officers and consultants of the Company or of its subsidiaries or their respective affiliates. The Equity Plan authorizes the
issuance of up to 40,500,000 shares of common stock, par value $0.001 per share, of the Company.
The
description of the Equity Plan is not complete and is qualified in its entirety by reference to the full text of the Cash Incentive
Plan, a copy of which is attached to this Current Report on Form 8-K as Exhibit 10.2 and is incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
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BRIDGEWAY
NATIONAL CORP.
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By:
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/s/
Eric Blue
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Eric
Blue
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Chief
Executive Officer
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Dated:
September 28, 2020
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