Company: NTWK
Filing Date: 2025-05-01
Form Type: DEF 14A
Source: 0001641172-25-007993
Chunk: 62

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-05-01
Form: DEF 14A
Chunk 62
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 than $1,000,000 that is paid to certain individuals. The Compensation Committee is aware of the limitations imposed by Section 162(m) and considers the issue of deductibility when and if circumstances warrant. The committee reviews proposed compensation plans in light of applicable tax deductions, and generally seeks to maximize the deductibility for tax purposes of all elements of compensation. However, the committee may approve compensation that does not qualify for deductibility, including stock option and time-based restricted stock awards, if and when the committee deems it to be in the best interests of the Company and our shareholders.

Accounting for Stock-Based Compensation

Commencing on July 1, 2006, we began accounting for stock-based payments, including awards under our Employee Stock Option Plans, in accordance with the of Financial Accounting Standards Board’s Accounting Standards Codification Topic 718, Compensation – Stock Compensation.

Summary Compensation

The following table shows the compensation for the fiscal years ended June 30, 2024 and 2023, earned by our Chairman and Chief Executive Officer, our Chief Financial Officer who is our Principal Financial and Accounting Officer, and others considered to be executive officers of the Company.

| Name and Principal Position |     | Fiscal Year Ended |     | Salary ($) |         |    |     | Bonus ($) |         |    |     | Stock Awards ($) (1) |   |     | Option Awards ($) |        |     | All Other Compensation ($) |         |    |     | Total ($) |           |
|:----------------------------|:----|------------------:|:----|:-----------|--------:|---:|:----|:----------|--------:|---:|:----|:---------------------|:--|:----|:------------------|-------:|:----|:---------------------------|--------:|---:|:----|:----------|----------:|
| Najeeb Ghauri               |     |              2024 |     | $          | 693,000 |    |     | $         | 472,890 | -2 |     | $                    | - |     | $                 | 20,285 |     | $                          | 200,000 | -3 |     | $         | 1,386,175 |
| CEO & Chairman              |     |              2023 |     | $          | 700,000 |    |     | $         |       - | -2 |     | $                    | - |     | $                 |      -