Ion Geophysical Corp. - 2016-02-04


Opened a 1-for-15 reverse stock split on common shares, and increased the number of authorized shares to 400 million, up from 200 million. Certain amendments to 2013 LTIP increased the total number of shares that can be issued under the plan to about 1.24 million. Stock began trading on a split-adjusted basis on Feb. 5. Upon completion, every 15 shares owned by a stockholder will be combined into one common share; the number of outstanding shares will be reduced to about 10.6 million, down from about 159.8 million; the number of authorized shares was reduced to 26.7 million, down from 400 million. No fractional shares will be issued. Computershare Investor Services is the transfer agent.

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