Company: IWSH
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001214659-25-004885
Chunk: 76

Company: Wright Investors Service Holdings, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1A
Chunk 76
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 loss carryforward.

The Company files a consolidated
federal tax return with its subsidiaries. As of December 31, 2024, the Company has a federal net operating loss carryforward of approximately
$24,334,000, of which $15,177,000 expires from 2031 through 2037, and $9,157,000 does not expire. The Company
also has various state and local net operating loss carryforwards totaling approximately $8,179,000, which expire between 2025 and 2045.
The Company’s capital loss carryforward of approximately $2,371,000 expired during 2023.

    6.
    Capital Stock

The Company’s Board of Directors, without
any vote or action by the holders of common stock, is authorized to issue preferred stock from time to time in one or more series and
to determine the number of shares and to fix the powers, designations, preferences and relative, participating, optional or other special
rights of any series of preferred stock.

The Board of Directors authorized the Company
to repurchase up to 5,000,000 outstanding shares of common stock from time to time either in open market or privately negotiated
transactions. The Company did not repurchase any common stock during the year ended December 31, 2024 and December 31, 2023. At December
31, 2024 and 2023, the Company had repurchased an aggregate of 2,234,721 shares of its common stock and a total of 2,765,279 remained
available for repurchase at December 31, 2024 and 2023. 

On March 9, 2023, there were 285,000 shares
of Company common stock issued to the independent directors of the Company, for payment of quarterly directors’ fees due to them
for services in 2022, which were classified as issuable at December 31, 2022. The equity compensation awards were issued pursuant
to the exemption from the registration requirements of Section 5 of the Securities Act of 1933 (“1933 Act”) provided by Section
4(a)(2) of the 1933 Act.

In March 2023, the Company
amended its Directors’ Compensation Program for Directors who are not employees of the Company to provide that effective January
1, 2023 and as long as the Company remains a shell company (i)