Company: CRK
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000950170-25-056747
Chunk: 26

Company: COMSTOCK RESOURCES INC
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 26
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 of shares of common stock outstanding. If stockholders approve the Amendment, the issuance of 10,000,000 shares under the 2019 Plan would increase our total potential dilution rate by 3.42% from 1.34% to 4.76%. • Limited expected share pool duration. Based on our historic and projected future use of equity-based compensation, we estimate that the shares requested under the 2019 Plan will be sufficient to provide awards for approximately five years. However, the actual duration of the shares reserve will depend on currently unknown factors, such as the Company’s future stock price, changes in participation, our hiring and promotion activity, future grant practices, award type mix and levels, competitive market practices, acquisitions and divestitures, the rate of returned shares due to forfeitures or cash settlements, the need to attract, retain and incentivize key talent, and how the Company chooses to balance total compensation between cash and equity-based awards. • Avoids disruption in our compensation programs and mitigates the need for significant cash compensation. We consider equity-based compensation to be a vital element of our employee compensation program. If the Amendment is not approved, we would need to replace components of our equity-based compensation program with cash or with other instruments that may not necessarily support our goals of strengthening long-term retention and aligning employee interests with those of our stockholders. Additionally, replacing equity with cash would increase our cash compensation expense and significantly deplete cash that could be better utilized for other strategic purposes or returned to stockholders. Share Information on Equity Compensation Plans as of April 7, 2025 The following table provides information regarding our outstanding equity awards and shares available for future awards under the Company’s existing equity compensation plan as of April 7, 2025 (except as otherwise noted):

| Total number of shares to be issued upon exercise or payment of outstanding equity awards(1) |     |   3,725,870 |
| Total number of shares authorized for future issuance under the 2019 Plan(2)                 |     |     213,735 |
| Total number of shares of common stock outstanding as of April 7, 2025                       |     | 292,917,808 |

(1) Assumes PSUs will vest and pay out based on target performance levels being achieved. The Company did not have any stock options or stock appreciation rights outstanding as of April 7, 2025. (2) Represents the total number of shares available for future awards under the 2019 Plan