Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 1428

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 7A
Chunk 1428
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 (“SARs”), restricted stock, restricted stock units, deferred
stock units, unrestricted stock, dividend equivalent rights, and other equity-based awards.

Stock Options

Stock options granted under
the 2024 Plan may be nonqualified stock options or incentive stock options within the meaning of Section 422 of the Internal Revenue
Code of 1986, as amended (the “Code”). Each option will become vested and exercisable at such times and under such conditions
as our Compensation Committee may approve consistent with the terms of the 2024 Plan. No option may be exercisable more than ten years
after the option grant date. Our Compensation Committee may include in the option agreement provisions specifying the period during which
an option may be exercised following termination of the grantee’s service.

The exercise price per share
of our common stock for each option granted under the 2024 Plan may not be less than 100%, or 110% in the case of an incentive stock
option granted to a stockholder who owns more than ten percent of our voting stock, of the fair market value of a share of our common
stock on the option grant date, except in the case of an option granted upon assumption of, or in substitution for, outstanding awards
previously granted under a compensatory plan by a business entity acquired or to be acquired by us or an affiliate of ours or with which
we or an affiliate has combined or will combine. Payment of the exercise price for shares purchased pursuant to the exercise of an option
may be made in such forms as are approved by our Compensation Committee. These forms may include, in our Compensation Committee’s
discretion, cash, cash equivalents, shares of our common stock and net issuance.

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Restricted Stock, Restricted Stock
Units, and Deferred Stock Units

Restricted stock is an award
of our common stock on which vesting restrictions are imposed that subject such shares of our common stock to a substantial risk of forfeiture,
as defined in Section 83 of the Code. A restricted stock unit is an award that represents a conditional right to receive shares
of our common stock in the future and that may be made subject to the same types of restrictions and risk of forfeiture as restricted
stock. A deferred stock unit is a restricted stock unit that may be settled at some point in the future at a time or times consistent
with the requirements of Section 409A of the Code.

Stock Appreciation Rights

A SAR is a right to receive
upon exercise, in the form of