Liberty Star Uranium & Metals Corp. filed a Form 8-K on November 4, 2026, disclosing a unanimous Board of Directors decision on October 28, 2026, to award 11,750,000 non-qualified stock options to directors, officers, and managers.

Key Highlights

  • Total options granted: 11,750,000 non-qualified stock options awarded on October 28, 2026, in a unanimous Board decision.
  • Exercise price: $0.02, the closing OTCQB price on the grant date, described as company practice.
  • Vesting schedule: One third upon issuance, one third on the first year anniversary, and one third on the second year anniversary.
  • Chairman milestone awards: The Chairman of the Board received an additional 3,500,000 options in milestone tranches tied to specific events including a definitive earn-in or joint venture on Hay Mountain or Red Rock Canyon, non-dilutive or equity financing of at least $1.5M, a resource target publication or funded drill program, or uplisting or a sustained $0.05 price.
  • No repricing: The filing states no repricing without stockholder approval, with a 10-year option term.
  • New equity plan: The company disclosed plans to seek stockholder approval for a 25,000,000-share New 2026 Equity Incentive Plan within twelve months, to be followed by a Form S-8 registration statement.

Board Awards Options to Directors, Officers, and Managers at Liberty Star

According to the Form 8-K filed with the SEC, Liberty Star Uranium & Metals Corp. (OTCQB:LBSR) disclosed that its Board of Directors unanimously approved the grant of 11,750,000 non-qualified stock options on October 28, 2026. The filing specifies the allocation as 1,500,000 options each for the Chairman of the Board, Board Directors, and the CFO/interim CEO; 500,000 options for the VP Field Manager; and 250,000 options for the IR Manager/PT.

The filing states that the Chairman of the Board received an additional 3,500,000 options structured in milestone tranches. Those milestones, as described in the filing, include: "(a) definitive earn-in, joint venture, or sale agreement on Hay Mountain or the Red Rock Canyon claims; (b) non-dilutive or equity financing of at least $1.5M closed at or above market; (c) 2026 field-work-based resource target publication or drill program funded; (d) uplisting or sustained $0.05 price." The exercise price for all options is $0.02, stated to be the closing OTCQB price on the grant date and described as company practice. The options carry a 10-year term and may not be repriced without stockholder approval, according to the filing.

The company also disclosed its intention to seek stockholder approval for a 25,000,000-share New 2026 Equity Incentive Plan within twelve months. The filing states that upon adoption of the new plan, the company will file a registration statement on Form S-8 to register shares issuable upon future exercise of options granted under the plan. Chairman Pete O'Heeron was quoted in the filing as stating that the company "compensates its directors and officers primarily in equity so that cash is reserved for exploration and claim maintenance," and noted that over the prior eighteen months the Board had "expanded the Hay Mountain footprint to about 44 square miles, the fourth largest mineral footprint in Arizona."

What Was Disclosed

Liberty Star Uranium & Metals Corp. reported a Board-approved grant of 11,750,000 non-qualified stock options to directors, officers, and managers on October 28, 2026, at an exercise price of $0.02 per share, with a 10-year term and three-year ratable vesting.