Company: NTWK
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001493152-25-015950
Chunk: 603

Company: NETSOL TECHNOLOGIES INC
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1C
Chunk 603
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 terms of his consultancy agreement. The grant date fair value of the shares
was $8,333
and was recorded as compensation expense in the accompanying consolidated financial statements.

During
the year ended June 30, 2024, the Company issued 5,000
shares of common stock to employees pursuant to the terms of their employment agreements. The grant date fair value of the shares
was $9,050
and was recorded as compensation expense in the accompanying consolidated financial statements.

NOTE
15 – EQUITY INCENTIVE PLAN

At
the Company’s 2025 annual meeting of shareholders, the shareholders approved the 2025 Equity Incentive Plan (the “2025 Plan”).
The 2025 Plan is the Company’s sole active equity compensation plan and provides for the grant of stock options, stock appreciation
rights, restricted stock, restricted stock units, performance awards, and other stock-based awards to employees, directors, and consultants.
The maximum number of shares of common stock authorized for issuance under the 2025 Plan is 1,100,000. Shares subject to awards that
are forfeited, canceled, or expire without being exercised become available for grant under the plan. The 2025 Plan is administered by
the Compensation Committee of the Board of Directors, which has discretion to determine the terms of awards, including vesting and performance
conditions. The exercise price of stock options may not be less than the fair market value of the Company’s common stock on the
date of grant, and the maximum term of any option is ten years. As of June 30, 2025, the remaining shares to be granted are 998,109 under
the 2025 Plan.

    F-32

NETSOL
TECHNOLOGIES, INC.

Notes
to Consolidated Financial Statements

June
30, 2025 and 2024

Stock
Grants

The
following table summarizes stock grants awarded as compensation:

 SUMMARY OF UNVESTED STOCK GRANTS AWARDED AS COMPENSATION

    #
    Number of shares  
    Weighted
    Average Grant Date Fair Value ($) 

    Unvested,
    June 30, 2023 
     -  
    $- 
  
    Granted 
     75,035  
    $2.24 
  
    Vested 
     (75,035) 
    $2.24 
  
    Unvested,
    June 30, 202