Company: MITQ
Filing Date: 2025-09-29
Form Type: 10-K/A
Source: 0001437749-25-029978
Chunk: 63

Company: MOVING iMAGE TECHNOLOGIES INC.
Filing Date: 2025-09-29
Form: 10-K/A
Chunk 63
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” to our consolidated financial statements for the year ended June 30, 2025. |

| (2) | On May 26, 2023, the Board of Directors (the "Board") cancelled 150,000 options consisting of 50,000 options each to John Stiska, Katherine Crothall and Scott Anderson with an exercise price of $3.00. In its place, the Board granted 150,000 options consisting of 50,000 options each with an exercise price of $1.10 vesting immediately to John Stiska, Katherine Crothall and Scott Anderson. |

| (3) | For the year ended June 30, 2025, and as part of director compensation, outside directors opted to receive shares in lieu of cash.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 On March 25, 2025, the Board cancelled the previously issued May 23, 2023 150,000 share options at $1.10 per share to outside directors consisting of 50,000 each to Directors Katherine Crothall,Scott Anderson and John Stiska. The Board reissued the 150,000 options at $0.65 per share. On May 26, 2023, the Board granted either (i) 10,000 shares of the Company's stock, or (ii) options for 10,000 shares at $1.10 per share to each outside director Katherine Crothall, Scott Anderson and John Stiska. On March 25, 2025, the Board re-priced the $1.10 shares or options to $0.65 per share which resulted in an incremental stock-based compensation charge of $11,000 in the year ended June 30, 2025. 
 Granting of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
 We do not grant equity awards in anticipation of the release of material nonpublic information that is likely to result in changes to the price of our common stock, and do not time the public release of such information based on award grant dates. During the last completed fiscal year, we have not made awards to any named executive officer or director during the period beginning four business days before and ending one business day after the filing of a period report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K, and we have not timed the disclosure of material nonpublic information for the purpose of                                              
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