Vicinity Motor Corp. Issues Deferred Share Units to Directors

VANCOUVER, BC / ACCESSWIRE / June 28, 2024 / Vicinity Motor Corp. (NASDAQ:VEV)(TSXV:VMC), a North American electric vehicle supplier, has announced the issuance of Deferred Share Units (DSUs). Several of the company’s eligible directors have opted to receive their remuneration for 2024 in DSUs. As a result, the company has granted 273,510 DSUs for the second quarter.

This decision aligns with Vicinity's strategy to conserve cash while aligning directors' interests with shareholders. The DSUs are intended to be paid out when the directors leave the board, further ensuring long-term commitment to the company's success.