Glory Star New Media issues 2019 earnout shares and revises director indemnity agreement
On April 22, 2020, Glory Star issued 2019 earnout shares to the sellers of Glory Star after the 2019 financial targets were met, following the February 14, 2020 business combination with TKK Symphony Acquisition Corporation. The same day, its board approved a revised indemnity agreement for directors and executive officers, and the newly issued shares increase the company's outstanding share count. The filing names Glory Star New Media Holdings Limited as the registrant, not Cheer Holding, Inc.
Key points
- 2019 earnout shares were issued to the sellers on April 22, 2020; the filing caps the 2019 tranche at up to 5,000,000 ordinary shares.
- The shares were issued under Section 4(a)(2) and/or Regulation S, as no public offering was involved.
- The revised indemnity agreement covers attorneys' fees, judgments, fines and settlements, to the fullest extent Cayman Islands law permits.
- Director Joanne Ng and CFO Ian Lee remain under the previous indemnity agreement form (Exhibit 10.1 is the new form).
The filing
Written by AI on Nov 9, 2026, 8:53 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on April 23, 2020.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.