Company: MRCY
Filing Date: 2025-09-10
Form Type: DEF 14A
Source: 0001049521-25-000029
Chunk: 106

Company: MERCURY SYSTEMS INC
Filing Date: 2025-09-10
Form: DEF 14A
Chunk 106
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 Market Value of a Share on the applicable Grant Date. Except as permitted under Section 3(f), no outstanding Stock Appreciation Right or Stock Option may be (i) amended to reduce its underlying exercise price per Share, (ii) cancelled in exchange for another Stock Appreciation Right or Stock Option with a lower exercise price per Share; (iii) cancelled in exchange for other Awards or cash at a time when its underlying exercise price per Share is greater than the Fair Market Value per Share; or (iv) subject to any other action that would be treated, under the Applicable Exchange listing standards or for accounting purposes, as a “repricing” of such Stock Appreciation Right or Stock Option, unless such amendment, cancellation or action is approved by the Corporation’s shareholders.

d. Term. The Term of each Stock Appreciation Right and each Stock Option shall be fixed by the Committee, but no Stock Appreciation Right or Stock Option shall be exercisable more than 10 years after its Grant Date.

e. Exercisability .

i. Subject to Section 2(f), Stock Appreciation Rights and Stock Options shall be exercisable in whole or in part at such time or times and subject to such terms and conditions as shall be determined by the Committee and set forth in the applicable Award Agreement.

ii. In addition to any other method of exercise as may be established by the Committee in the Award Agreement or otherwise, on the last trading day on which all or a portion of an outstanding Stock Appreciation Right or Stock Option may be exercised, if as of the close of trading on such day the then Fair Market Value per Share exceeds the exercise price per Share of the Stock Appreciation Right or Stock Option by at least $0.01 (such expiring portion of a Stock Appreciation Right or Stock Option whose exercise price per Share is lower than the Fair Market Value per Share, an "Auto Exercise Eligible Award"), the Participant shall be deemed to have automatically exercised such Auto Exercise Eligible Award (to the extent it has not previously been exercised or forfeited) as of the close of trading in accordance with the provisions of this paragraph. If any such Award allows the Committee or the Participant to select whether settlement is to be made in Common Stock or cash at or prior to the time of exercise, then unless previously selected such selection shall be deemed to have been made in favor of receiving Common Stock. In the event of an automatic exercise of an Auto Exercise Eligible Award to be settled in Common Stock, the Corporation shall reduce the number of Shares issued