Company: CRK
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000950170-25-056747
Chunk: 24

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 24
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 INCENTIVE PLAN |

General We maintain the 2019 Plan to provide incentive compensation to our key employees and directors. On April 7, 2025, the Compensation Committee recommended and the Board of Directors approved an amendment to the 2019 Plan, subject to stockholder approval, that would (i) increase the number of shares of common stock available for issuance under the 2019 Plan by 10,000,000 shares, (ii) extend the term of the 2019 Plan through April 6, 2035, and (iii) provide that all of our employees and contract employees, as well as our non-employee directors, would be eligible for awards under the 2019 Plan ("the Amendment"). As of April 7, 2025, a total of 3,725,870 shares of common stock were subject to outstanding awards granted under the 2019 Plan and 213,735 shares of common stock were then available for new award grants under the 2019 Plan. We are seeking stockholder approval for the Amendment. Stockholder approval is required under the requirements of the NYSE which are applicable to us. By allowing us to continue to offer long-term performance-based compensation through the 2019 Plan, the Board of Directors believes we will continue to be able to attract, motivate, and retain individuals of exceptional talent upon whom, in large measure, our future success depends. The 2019 Plan was designed and is currently administered to support the achievement of the compensation program objectives, policies and plans, which cover our executive officers. In particular, awards granted under the 2019 Plan: • Are administered by our compensation committee, which is made up entirely of independent directors; • Allow us to maintain a competitive compensation program to attract and retain executives and other key employee talent; • Provide performance-based incentive compensation that aligns the interests of our executives and other key employees with that of our stockholders; and • Facilitate the ownership of our common stock by our executives and other key employees. The following is a summary of the material features of the 2019 Plan. The 2019 Plan, including the proposed Amendment, is attached to this Proxy Statement as Appendix A, and the following description is qualified in its entirety by the full text of the 2019 Plan, including the proposed Amendment. Reasons to Approve the Amendment to the 2019 Plan In setting the proposed number of shares reserved and issuable under the Amendment, the Committee and the Board considered several factors, including the potential