Company: AWRE
Filing Date: 2025-05-13
Form Type: 8-K
Source: 0000950170-25-070273
Chunk: 0

Company: AWARE INC /MA/
Filing Date: 2025-05-13
Form: 8-K
Item: Item 5.02
Chunk 0
---
ITEM 5.02. DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS, ELECTION OF DIRECTOR; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.

On May 9, 2025, the Compensation Committee of our board of directors (the “ Compensation Committee”) approved the Aware, Inc. Executive Bonus Plan for 2025 (the “ Plan”) and established performance goals and target bonuses thereunder.

Pursuant to the Plan, each of Ajay Amlani, our Chief Executive Officer and President, Brian Krause, our Chief Revenue Officer, Mohamed Lazzouni, our Chief Technical Officer, and David Traverse, our Chief Financial Officer, (the “ Participants”), will be eligible to receive bonuses based upon the achievement of certain performance goals.

Under the Plan, Mr. Amlani will be eligible to receive a target bonus of $183,333; Mr. Krause will be eligible to receive a target bonus of $100,000; Mr. Lazzouni will be eligible to receive a target bonus of $156,245; and Mr. Traverse will be eligible to receive a target bonus of $94,760.

The amounts payable under the Plan to each of the Participants are based on our achievement of performance goals in 2025 (the “ Performance Goals”) as follows:

  Performance Goal      Performance Goal Weight  
  Revenue                                   60%  
  Bookings Growth                           20%  
  EBITDA                                    20%  

Each Performance Goal is evaluated independently, and the target bonus potentially payable with respect to a Performance Goal (a “ Performance Goal Target Bonus”) is equal to the Participant’s target bonus multiplied by the performance goal weight for that Performance Goal. For each Performance Goal, the Compensation Committee established a threshold (the “ Performance Goal Threshold”) and a target (the “ Performance Goal Target”). No bonuses will become payable under the Plan for any Performance Goal unless our revenue in 2025 meets or exceeds the Performance Goal Threshold for revenue.

If our revenue in 2025 meets or exceeds the Performance Goal Threshold for revenue, then the bonus payable with respect to each Performance Goal shall be calculated as follows:

• If our performance in 2025 with respect to the Performance Goal is less than the applicable Performance Goal Threshold, no bonus will be payable with respect to that Performance Goal;

• If our performance in 2025 with respect to the Performance Goal meets the applicable Performance Goal Threshold, 50% of the