Company: BWMN
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0001628280-25-012365
Chunk: 49

Company: Bowman Consulting Group Ltd.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 15
Chunk 49
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 Plan (“ESPP”). Under the Company’s Employee Stock Purchase Plan, eligible employees who elect to participate are granted the right to purchase shares of common stock at a 15% discount of the weighted average selling price of the Company stock for the 30 days prior to the last day of the offering period.The following table summarizes the stock issuance activity under the Employee Stock Purchase Plan for the year ended December 31, 2024 (in thousands, except share data):December 31, 2024Proceeds from the issuance of common stock under the ESPP$1,921 Number of shares sold78,533For the year ended December 31, 2024, stock compensation expense for ESPP was $1.5 million.Stock OptionsEffective May 11, 2021 the Company established the Bowman Consulting Group Ltd. 2021 Omnibus Equity Incentive Plan (“the Plan”). The plan is administered by the Board of Directors through which they can grant stock options, including Incentive Stock Options (“ISO”), and non-qualified stock options (“NQSO”). The purpose of the Plan is to grant equity incentive awards to eligible participants to attract, motivate and retain key personnel. The Plan supersedes and 

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replaces any prior plan for stock options except that the prior plan shall remain in effect with respect to options granted under such prior plan until such options have been exercised, expired or canceled.The number of shares for which each option shall be granted, whether the option is an ISO or NQSO, the option price, the exercisability of the option, and all other terms and conditions of the option are determined by the Board at the time the option is granted. The options generally vest over a period between two and five years.For the years ended December 31, 2024 and 2023, no new option shares were granted.A summary of the status of stock options exercised, including the substantive options discussed in Note 3, is as follows: Number ofsharesWeightedAverageExercise PriceOutstanding at January 1, 202310,030$5.99 Granted–– Exercised(4,897)5.97 Expired or cancelled–– Outstanding at December 31, 20235,133$6.02 Granted–– Exercised(4,779)5.98 Expired or cancelled–– Outstanding at December 31, 2024354$6.61 The following summarizes information about