Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 85

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 85
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 the additional 1,309,500 shares available for issuance would increase the overhang to approximately 7.2%. The Company calculates the fully diluted “overhang” as the total of (a) shares underlying outstanding awards plus shares available for issuance under future equity awards, divided by (b) the total number of shares outstanding, shares underlying outstanding awards and shares available for issuance under future equity awards. When considering the share reserve for the 2025 Equity Incentive Plan, the Compensation Committee and the Board reviewed, among other things, the potential dilution to current shareholders as measured by burn rate and overhang, projected future share usage and projected future forfeitures. The Company’s burn rate averaged .7% of common shares outstanding over the last three years (2022-2024), as shown in the table below. The projected future usage of shares for long-term incentive awards under the 2025 Plan was reviewed under scenarios based on a variety of assumptions. Depending on assumptions, the share pool under the 2025 Plan is projected to satisfy the Company’s equity compensation needs for at least 3 to 5 years. The actual amount of time will vary depending on several factors, including changes in employee headcount, long-term incentive award type mix, future forfeitures and cancellations, performance-based award achievement as percent of target, future acquisitions, and the Company’s stock price.

| ​ | Fiscal Year                                      | ​ | ​ | 2022 |   |            |   | ​ | ​ | 2023 |   |            |   | ​ | ​ | 2024 |   |            |   | ​ |
| ​ | Time-based RSUs and DSUs granted                 | ​ | ​ |    ​ | ​ |    147,000 | ​ | ​ | ​ |    ​ | ​ |    112,000 | ​ | ​ | ​ |    ​ | ​ |    142,000 | ​ | ​ |
| ​ | Performance-based awards earned                  | ​ | ​ |    ​ | ​ |     30,000 | ​ | ​ | ​ |    ​ | ​ |     39,000 | ​ | ​ | ​ |    ​ | ​ |          0 | ​ | ​ |
| ​ | Total                                            | ​ | ​ |    ​ | ​ |    177,000 | ​ | ​ | ​ |    ​ | ​ |    151,000 | ​ | ​ | ​ |    ​ | ​ |    142,000 |