Company: AWRE
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038714
Chunk: 127

Company: AWARE INC /MA/
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 127
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 exercises and purchases under our Employee Stock Purchase Plan.Employee Stock Purchase Plan – In May 2021, we adopted the 2021 Employee Stock Purchase Plan (“2021 ESPP”) under which eligible employees could purchase common stock at a price equal to 85% of the lower of the fair market value of the common stock at the beginning or end of each six-month offering period.    Participation in the 2021 ESPP is limited to $25,000 worth of stock for each calendar year,  may be terminated at any time by the employee, and automatically ends on termination of employment.  A total of 1,000,000 shares of common stock were reserved for issuance under the 2021 ESPP, and as of December 31, 2024, there were 747,404 shares available for future issuance thereunder.  We issued 53,440 and 69,591 shares under the 2021 ESPP Plan during the years ended December 31, 2024 and 2023, respectively.  Share Purchases – On March 1, 2022, our Board of Directors authorized a stock repurchase program pursuant to which we may purchase up to $10.0 million of our common stock.  On November 30, 2023, our Board of Directors extended the program through December 31, 2025.  As of December 31, 2024 we have repurchased $2.0 million of our common stock pursuant to this program.  During the years ended December 31, 2024 and 2023 we repurchased 137,086 and 299,780 shares of our common stock, respectively.  The program does not obligate us to acquire any particular amount of common stock and the program may be modified or suspended at any time at our Board of Directors discretion. Dividends – We did not pay dividends in the years ended December 31, 2024 and 2023.

9.	LEASES We lease 20,730 rentable square feet at 76 Blanchard Road in Burlington, Massachusetts (the “Leased Space”) which has a term of ten years and six months, which includes a one-time termination right after seven years and six months.  The term of the lease commenced on October 1, 2022, the date that the landlord notified us that the planned construction on the Leased Space was substantially complete. The lease provides for an aggregate of $8.2 million of rent payments over the lease term