Company: FCAP
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001171843-25-001868
Chunk: 996

Company: FIRST CAPITAL INC
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 996
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 and 2022, respectively.

			(15)

			STOCK-BASED COMPENSATION PLANS

On May 20, 2009, the Company adopted the 2009 Equity Incentive Plan (the “2009 Plan”) which terminated as of May 20, 2019.  The 2009 Plan provided for the award of stock options, restricted stock, performance shares and stock appreciation rights.  The aggregate number of shares of the Company’s common stock available for issuance under the 2009 Plan could not exceed 223,000 shares and 176,150 shares were still available for issuance under the 2009 Plan at its termination. 

On May 22, 2019, the Company adopted the 2019 Equity Incentive Plan (the “2019 Plan”).  The 2019 Plan provides for the award of stock options, restricted stock, performance shares and stock appreciation rights.  The aggregate number of shares of the Company’s common stock available for issuance under the 2019 Plan may not exceed 176,150 shares.  If an award under the 2009 Plan is canceled, terminates, expires, is forfeited or lapses for any reason, any issued shares subject to the award shall not be available for issuance pursuant to awards subsequently granted under the 2019 Plan.  Further, no additional participants, as that term is defined in the 2009 Plan, are eligible for grants of awards under the 2009 Plan.  The Company generally issues new shares under the 2019 Plan from its authorized but unissued shares.

At December 31, 2024, 159,650 shares of the Company’s common stock were available for issuance under the 2019 Plan.  The Company may grant both non-statutory and statutory stock options which may not have a term exceeding ten years.  In the case of incentive stock options, the aggregate fair value of the stock (determined at the time the incentive stock option is granted) for which any optionee may be granted incentive options which are first exercisable during any calendar year shall not exceed $100,000.  Option prices may not be less than the fair market value of the underlying stock at the date of the grant.  An award of a performance share is a grant of a right to receive shares of the Company’s common stock which is contingent upon the achievement of specific performance criteria or other objectives set at the grant date.  Stock appreciation rights are equity or cash settled share-based