Company: DSNY
Filing Date: 2025-07-14
Form Type: 10-Q
Source: 0001062993-25-012768
Chunk: 22

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-07-14
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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31, 2024 - $59,082) of total unrecognized compensation cost related to non-vested stock-based compensation awards. The unrecognized compensation cost is expected to be recognized over a weighted average period of 0.46 years (May 31, 2024 - 0.77 years).
      During the three and nine months ended May 31, 2025, the Company recorded $8,929 and $27,832 in non-cash stock-based compensation, respectively (May 31, 2024 - $11,359 and $35,819, respectively).

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      [c] Employee Stock Purchase Plan
      The Company's 2011 Employee Stock Purchase Plan (the "ESPP") became effective on February 22, 2011. Under the ESPP, employees of the Company can contribute up to 5% of their annual salary into a pool which is matched equally by the Company in order to purchase the Company's common shares under certain terms. Directors can contribute a maximum of $12,500 each for a combined maximum annual purchase of $25,000. The maximum annual combined contributions will be $400,000. All purchases are made through the TSX-V by a third-party plan agent. The third-party plan agent is also responsible for the administration of the ESPP on behalf of the Company and the participants.
      During the three and nine months ended May 31, 2025, the Company recognized compensation expense of $19,960 and $52,170, respectively (May 31, 2024 - $17,734 and $51,664, respectively) in salaries and wages on the condensed consolidated statement of comprehensive income (loss) in respect of the ESPP, representing the Company's employee matching of cash contributions to the ESPP. The shares were purchased on the open market at an average price of $0.67 over a nine-month period (May 31, 2024 - $1.02). The shares are held in trust by the Company for a period of one year from the date of purchase. As of May 31, 2025, 680,610 shares were held in trust by the Company (May 31, 2024 - 139,293 shares).
      [d] Earnings Per Share
      Net income (loss) per common share (basic) is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Net income (loss) per