Company: BWMN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001628280-25-012365
Chunk: 50

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 15
Chunk 50
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 options outstanding and exercisable at December 31, 2024 and December 31, 2023: Options Outstanding and ExercisableExercisePriceTotalOutstandingWeightedAverageRemainingLife (Years)WeightedAverageExercisePriceTotalExercisableDecember 31, 2023$6.28 5,1335.0$6.02 5,133December 31, 2024$6.28 3545.0$6.61 354The intrinsic value of these options on December 31, 2024 and 2023 was $18.67 and $29.24, respectively. The Company received cash payments of $28,205 and $29,203 from the exercise of options under the Stock Option Plan in the years ended December 31, 2024 and 2023, respectively.The Company did not record any compensation cost related to stock options during the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, there is no unrecognized compensation costs related to non-vested share-based compensation arrangements granted under the Stock Option Plan. The remaining unexercised shares are from substantive options in which the non-recourse notes may be pre-paid, therefore the Company recognized the total calculated compensation expense at the time of issuance.Stock Bonus PlanEffective May 11, 2021, the Company established the Bowman Consulting Group Ltd. 2021 Omnibus Equity Incentive Plan (“the Plan”). The Plan is administered by the Board of Directors through which they can issue restricted stock awards. As of December 31, 2024, 4,883,269 shares of common stock are authorized and reserved for issuance under the Plan. This reserve automatically increases on each January 1, for the duration of the Plan, in an amount equal to 5% of the total number of shares outstanding on December 31st of the preceding calendar year. The Plan supersedes and replaces 

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any prior plan for stock bonus grants to employees of the Company except that the prior plan shall remain in effect with respect to awards granted under such prior plan until such awards have been forfeited or fully vested.During the year ended December 31, 2024, the Board granted 515,077 shares under the Plan. The shares have a vesting period of up to five years during which there are certain restrictions as defined by the Plan and Stock Bonus Agreements. The grant date fair