Company: OLP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001140361-25-013961
Chunk: 49

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 49
---
, new awards of restricted stock and RSUs will be subject to five-year and three-year cliff vesting, respectively, and, for RSUs, satisfaction of market and/or performance conditions; |

| • | No default “single-trigger” vesting of awards; and |

| • | Without stockholder approval, we will not (i) reprice, replace or regrant, an outstanding option either in connection with the cancellation of such option or by amending an award agreement to lower the exercise price of such option, (ii) cancel outstanding options in exchange for cash or other awards; and (iii) repurchase outstanding unvested restricted stock or unvested RSUs in exchange for cash. |

General The Board has approved, subject to stockholder approval, the adoption of the One Liberty Properties, Inc. 2025 Incentive Plan. The Board believes that granting equity based compensation is an important component of our compensation structure. The purpose of the Plan is to motivate, retain and attract employees, officers and directors of experience and ability and to further our financial success by aligning the interests of participants in the Plan, through the ownership of shares of common stock, with the interests of our stockholders. As of the close of business on the record date, an aggregate of 998,910 shares of restricted stock and shares subject to RSUs ( i.e., 742,170 shares of restricted stock and 256,740 shares subject to RSUs issued pursuant to our equity plans (other than the Plan), are outstanding. Approximately 20% of the outstanding restricted stock granted under such plans vests annually in approximately equal amounts ( i.e., each restricted stock award vests, with specified exceptions, five years after the grant) and, subject to satisfaction of performance and/or market based conditions, approximately 1/3 of the shares subject to RSUs granted under our equity plans (other than the Plan), vest in each of 2025, 2026 and 2027. See “ Executive Compensation – Long-Term Equity and Long-Term Equity Incentive Awards” and “Executive Compensation – Outstanding Equity Awards at Fiscal Year End.”There are 34,855 shares available to be awarded pursuant to our 2022 Incentive Plan, the only equity plan under which awards may currently be granted, and if stockholders adopt the Plan, no further awards will be made under the 2022 Incentive Plan.The closing price of a share of our common stock on the New York Stock Exchange on April 4,