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) March 10, 2011
SKY HARVEST WINDPOWER CORP.
(Exact name of registrant as specified in its charter)
Nevada 000-52410 N/A
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
890 West Pender Street, Suite 710, Vancouver, BC, Canada V6C 1J9
(Address of principal executive offices and Zip Code)
Registrant's telephone number, including area code (604) 267-3041
666 Burrard Street, Suite 617, Vancouver, B.C., Canada V6C 3P6
(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:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a -12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d -2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e -4(c))
ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF
CERTAIN OFFICERS
Effective March 10, 2011, our company's board of directors adopted the 2011
Stock Option Plan. The purpose of the 2011 Stock Option Plan is to enhance the
long-term stockholder value of our company by offering opportunities to current
and prospective directors, officers, employees and eligible consultants of our
company to acquire and maintain stock ownership in our company in order to give
these persons the opportunity to participate in our company's growth and
success, and to encourage them to remain in the service of our company. A total
of 5,000,000 shares of common stock are available for issuance under the 2011
Stock Option Plan.
The 2011 Stock Option Plan provides for the grant of incentive stock options and
non-qualified stock options. Incentive stock options granted under the 2011
Stock Option Plan are those intended to qualify as "incentive stock options" as
defined under Section 422 of the Internal Revenue Code. However, in order to
qualify as "incentive stock options" under Section 422 of the Internal Revenue
Code, the 2011 Stock Option Plan must be approved by the stockholders of our
company within 12 months of its adoption. The 2011 Stock Option Plan has not
been approved by our stockholders. Non-qualified stock options granted under the
2011 Stock Option Plan are option grants that do not qualify as incentive stock
options under Section 422 of the Internal Revenue Code.
Concurrent with the adoption of the 2011 Stock Option Plan, the Company granted
incentive stock options on an aggregate of 1,525,000 shares of its common stock
to its current director and officer, as well as eligible consultants. These
stock options are exercisable at a price of $0.10 per share for a period of five
years.
The above description of the 2011 Stock Option Plan is qualified in its entirety
by reference to the full text of the 2011 Stock Option Plan, which is attached
as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by
reference herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
10.1 2011 Stock Option Plan
99.1 Press Release dated March 10, 2011
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.
SKY HARVEST WINDPOWER CORP.
/s/ William Iny
----------------------------
William Iny
President
Date: March 10, 2011
2