Apple has alerted the Securities and Exchange Commission (SEC) and investors of its recent acquisition of app search and discovery company Chomp, submitting a regulatory filing with the commission that lays out the share plan for the company.
The company has filed a Form S-8 with the SEC, which must be submitted when it issues stock or stock options to employees, registering 3,207 shares to Chomp as part of its equity incentive plan. The proposed maximum offering price per share stands at $29.02, resulting in a proposed maximum aggregate offering price of $93,067.14.
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It appears that Chomp had a previous equity incentive plan before it was acquired by Apple. This plan was then assumed by Apple.
In fact, Chomp set the plan in 2009, stating that it would help “attract and retain the best available personnel for positions of substantial responsibility, provide additional incentive to Employees, Directors and Consultants, promote the success of the Company’s business.”
Apple has already pulled the discovery app from Google’s rival mobile app marketplace, Google Play, also removing Android search options from its website.
Apple purchased Chomp on February 24 2012, with the company looking to rectify issues that many have finding new apps on the App Store that are of value.
Chomp has several deals in place with other companies (including Verizon) that remained in place at the time the company was acquired but with the team and product transitioning into Apple’s hands, these deals and any standalone products will be systematically shut down.