Company: AWRE
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0000950170-25-038714
Chunk: 126

Company: AWARE INC /MA/
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 126
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 determined based on the fair market value of our stock on the date of grant, provided the number of shares in the grant is fixed on the grant date.  We granted 284,814 restricted stock units to directors, officers, and employees during the year ended December 31, 2024.  Of the restricted stock units granted in 2024, 70,406 vested shortly after June 30, 2024 and 70,408 vested shortly after December 31, 2024.  Of the remaining 144,000 restricted stock units, 15,000 vested in November 2024, 6,000 vested in December 2024 and 18,000 are scheduled to vest in June 2025, 2026 and 2027 in 6,000 increments.  The remaining 105,000 restricted stock units were forfeited in 2024 as a result of employee terminations.Unrestricted Stock Grants.  Our 2001 Plan, which was replaced by our 2023 Plan,  permitted us to grant shares of unrestricted stock to our directors, officers, and employees.  Stock-based compensation expense for stock grants is determined based on the fair market value of our stock on the date of grant; provided the number of shares in the grant is fixed on the grant date.  

48

We granted 134,211 shares of unrestricted stock to directors, officers, and employees during the year ended December 31, 2023.  Of these shares granted in 2023, 67,104 were issued shortly after June 30, 2023 and 67,107 were issued shortly after December 31, 2023.  15,000 shares were issued in August 2024 related to a grant in August 2022 and the remaining 15,000 unrestricted stock grants were forfeited in September 2024 as a result of employee termination.Stock Options.  Total options outstanding at December 31, 2024 and 2023 were as follows:   

        2024

        2023

        Options

        WeightedAverageExercise Price

        Options

        WeightedAverageExercise Price

        Outstanding at beginning of year

        2,260,000

        $
        4.88

        2,560,000

        $
        4.96

        Granted (1)

        1,573,073

        2.14

        -

        -

        Exercised