unvested 85,000 restricted stock awards will vest in 42,500 share increments on the last day of each calendar quarter commencing on March 31, 2019, continuing until all restricted shares
have vested.
(2)
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Mr. Singer holds the following stock options which vest based on the Companys attainment of three
average stock price benchmarks and stock options which vest 20% per year over a five-year period from the date of grant and restricted stock awards which vests 33.3% per year over a three-year period from the date of grant and restricted stock
awards which vest as disclosed in his employment agreement discussed above:
|
- 306,900 stock options granted on
September 18, 2017. The first 102,300 shares will vest if the Companys average publicly traded closing stock price is over $7.00 per share for a sixty-consecutive calendar day period. The next 102,300 shares will vest if the
Companys average publicly traded closing stock price is over $8.00 per share for a sixty-consecutive calendar day period. The final 102,300 shares will vest if the Companys average publicly traded closing stock price is over $9.00 per
share for a sixty-consecutive calendar day period. The vesting of the Stock Options is cumulative.
- 128,000 stock options granted on
February 28, 2018. 25,600 stock options have vested, or will vest, on each of February 28, 2019, 2020, 2021, 2022 and 2023.
-
109,890 restricted stock awards granted September 18, 2017. 36,630 restricted stock awards have vested, or will vest, on each of September 18, 2018, 2019 and 2020.
- 58,200 restricted stock awards granted February 28, 2018. 19,400 restricted stock awards have vested, or will vest, on each of
February 28, 2019, 2020 and 2021.
(3)
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Mr. Varela holds the following stock options which vest 20% per year over a five-year period from the date
of grant and restricted stock awards which vests 33.3% per year over a three-year period from the date of grant:
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-
43,700 stock options granted on February 28, 2018. 8,740 stock options have vested, or will vest, on each of February 28, 2019, 2020, 2021, 2022 and 2023.
- 48,458 stock options granted on May 3, 2017. 9,691 stock options have vested, or will vest, on each of May 3, 2018 and 2019. 9,692
stock options have vested, or will vest, on each of May 3, 2020, 2021 and 2022.
- 38,710 stock options granted on February 24,
2016. 7,742 stock options have vested, or will vest, on each of February 24, 2017, 2018, 2019, 2020 and 2021.
- 30,000 stock options
granted on February 17, 2015. 6,000 stock options have vested, or will vest, on each of February 17, 2016, 2017, 2018, 2019 and 2020.
- 20,000 stock options granted on July 14, 2014. 4,000 stock options have vested, or will vest, on each of July 14, 2015, 2016, 2017,
2018 and 2019.
- 19,900 restricted stock awards granted February 28, 2018. 6,633 restricted stock awards have vested, or will vest,
on each of February 28, 2019 and 2020. 6,634 restricted stock awards will vest on February 28, 2021.
- 23,913 restricted stock
awards granted May 3, 2017. 7,971 restricted stock awards have vested, or will vest, on each of May 3, 2018, 2019 and 2020.
(4)
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Mr. Visa holds the following stock options which vest 20% per year over a five-year period from the date
of grant and restricted stock awards which vests 33.3% per year over a three-year period from the date of grant:
|
-
16,900 stock options granted on May 1, 2018. 3,380 stock options will vest on each of May 1, 2019, 2020, 2021, 2022 and 2023.
-
38,800 stock options granted on February 28, 2018. 7,760 stock options have vested, or will vest, on each of February 28, 2019, 2020, 2021, 2022 and 2023.
- 8,300 restricted stock awards granted May 1, 2018. 2,766 restricted stock awards vested on February 28, 2019. 2,767 restricted
stock awards will vest on each of May 1, 2020 and 2021.
44