Company: HGBL
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038691
Chunk: 51

Company: Heritage Global Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 15
Chunk 51
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        )

        —

        Options outstanding, end of year

        293,125

        383,125

      The outstanding options vest over four years at exercise prices ranging from $0.70 to $1.78 per share.  Heritage Global Inc. 2016 Stock Option PlanIn 2016, the Company adopted the Heritage Global Inc. 2016 Stock Option Plan (the “2016 Plan”) which provided for the issuance of incentive stock options and non-qualified stock options up to an aggregate of 3,150,000 shares of common stock (subject to adjustment in the event of stock dividends, stock splits, and other similar events). Options may be forfeited in certain circumstances. On June 8, 2022 the 2016 plan was replaced by the 2022 Heritage Global Inc. Equity Incentive Plan, and as such, no awards under this plan were granted during 2024 or 2023.  

        2016 Plan
         
        2024

        2023

        Options outstanding, beginning of year

        1,079,850

        1,255,975

        Options exercised

        (10,000
        )

        (91,750
        )

        Options forfeited

        (4,000
        )

        (84,375
        )

        Options outstanding, end of year

        1,065,850

        1,079,850

      The outstanding options under the 2016 Plan vest over four years at exercise prices ranging from $0.45 to $3.33 per share.2022 Heritage Global Inc. Equity Incentive PlanIn 2022, at the Company's 2022 Annual Meeting of Shareholders, the Company's shareholders approved the 2022 Heritage Global Inc. Equity Incentive Plan, which replaces the Heritage Global Inc. 2016 Plan and authorized the issuance of an aggregate of 3.5 million shares of Common Stock for awards made after June 8, 2022. Options may not be granted with an exercise price less than the fair market value of the common stock of the Company as of the day of the grant. Options granted pursuant to the plan are subject to limitations on transfer and execution and may be issued subject to vesting conditions. Options may also be forfeited in certain circumstances. In 2024 and 2023, the Company issued options to purchase 112,500 and 470,000 shares of