Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 302

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 8
Chunk 302
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 surrendering 17,439 shares of the Company’s common stock at fair value as payment of the exercise price, resulting
in a net issuance to him of 9,366 shares. On December 21, 2023, the Company extended the expiration date of the 133,195 non-qualified
options from December 26, 2023 to December 26, 2029; the modification resulted in $1,175,000 of incremental stock-based compensation
expense in fiscal 2024 (valued using Black-Scholes with then-current inputs).

74

In
March 2017, the Compensation Committee awarded 18,000 stock options to the Company’s then Vice President, Real Estate, David C.
Gonzalez, to purchase up to 18,000 shares of common stock. The per share exercise price of the options is $27.30 which is the fair value
of the Company’s Common Stock as reported on NASDAQ Capital Market on March 2, 2017. The options expire ten years from the date
of grant. Pursuant to the time vesting requirements, the options vest over a period of five years, with 3,600 options vesting upon each
one-year anniversary of the date of grant. Mr. Gonzalez currently serves as Chief Operating Officer.

On
October 13, 2023, the Compensation Committee awarded 18,000 stock options to the Company’s Chief Operating Officer David C. Gonzalez,
to purchase up to 18,000 shares of common stock. The exercise price of the options is $28.90 which was the fair market value of the Company’s
Common Stock as reported on NASDAQ closing on October 12, 2023. The options expire ten years from the date of grant. Pursuant to the
time vesting requirements, the options vest over a period of three years, with 6,000 options vesting upon each one year anniversary of
the date of grant.

Compensation
of Directors

Effective
as of fiscal year ended June 30, 2011, annual cash compensation payable to non-employee directors has been $12,000. With the exception
of members of the Audit Committee, non-employee directors do not receive any additional fees for attending Board or Committee meetings
but are entitled to reimbursement of their reasonable expenses to attend such meetings. Members of the Audit Committee are paid a fee
of $1,000 per quarter, with the Chair of that Committee to receive $1,500