Company: CPSH
Filing Date: 2025-10-31
Form Type: 10-Q
Source: 0001437749-25-032553
Chunk: 4

Company: CPS TECHNOLOGIES CORP/DE/
Filing Date: 2025-10-31
Form: 10-Q
Item: Part I, Item 1
Chunk 4
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centive Plan Stock Incentive Plan (the “ Plan”) and nostock options were granted to outside directors during the quarter endedSeptember 28, 2024. For the nine months endedSeptember 28,2024a total of135,500stock options and75,000stock options were granted to employees and directors, respectively.

During the threeand ninemonths endedSeptember 27, 2025, there were5,500options exercised and corresponding shares issued at a weighted average price of $1.44. During the threeand ninemonths endedSeptember 28, 2024, there were60,000options exercised and corresponding shares issued at a weighted average price of $1.50.

During the threeand ninemonths endedSeptember 27, 2025, the Company repurchased2,183shares for employees to facilitate their exercise of stock options. During the threeand ninemonths endedSeptember 28, 2024, the Company repurchased53,255shares for employees to facilitate their exercise of stock options.

There were also1,077,800options outstanding at a weighted average price of $2.45with a weighted average remaining term of7.13years as ofSeptember 27, 2025, and there were635,500options exercisable at a weighted average price of $2.45with a weighted average remaining term of6.37years as of September 27, 2025. The Plan, as amended, is authorized to issue1,500,000shares of common stock. As ofSeptember 27, 2025, there were421,400shares available for future grants under the 2020 Plan and138,900shares outstanding under the 2009 Plan. As ofSeptember 28, 2024, there were626,400shares available for future grants under the 2020 Plan and248,400shares outstanding under the 2009 Plan.

As ofSeptember 27, 2025, there was $509thousand of total unrecognized compensation cost related to nonvested share-based compensation arrangements granted under the Plan; that cost is expected to be recognized over a weighted average period of2.68years.

During the threeand ninemonths endedSeptember 27, 2025, the Company recognized $49,354and $220,894, respectively, as shared-based compensation expense related to previously granted shares under the Plan.

During the threeand ninemonths endedSeptember 28, 2024, the