Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 82

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 82
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 “2025 Plan”). The 2025 Equity Incentive Plan will become effective as of the date it is approved by the Company’s shareholders (the “Effective Date”). The 2025 Equity Incentive Plan is intended to serve as the successor to the Company’s 2021 Equity Incentive Plan (the “Prior Plan”). As of March 1, 2025, there were approximately 474,994 shares of the Company’s Common Stock subject to outstanding awards under the Prior Plan. As of such date, there were approximately 567,557 shares of the Company’s Common Stock reserved and available for future awards under the Prior Plan. The Prior Plan has been the sole source of shares for all equity incentive awards granted to the Company’s officers, employees and directors since 2021, and during such time, the Company has not sought shareholder approval of any increase in the number of shares available for issuance under the Prior Plan. If the Company’s shareholders approve the 2025 Equity Incentive Plan, all future equity awards will be made from the 2025 Equity Incentive Plan, and the Company will not grant any additional awards under the Prior Plan. If the 2025 Equity Incentive Plan is approved, as of the Effective Date a total of 1,309,500 shares (an incremental 741,943 shares as of March 1) will be reserved and available for issuance pursuant to the grant of new awards under the 2025 Equity Incentive Plan, less one share for every one share subject to an award granted under the Prior Plan after March 1, 2025 and prior to the Effective Date. Approval of the 2025 Equity Incentive Plan will enable the Company to continue making equity compensation grants that will serve as incentives to recruit and retain key employees and to continue aligning the interests of its employees with shareholders. A summary of the 2025 Equity Incentive Plan is set forth below. This summary is qualified in its entirety by the full text of the 2025 Equity Incentive Plan, which is attached to this proxy statement as Appendix A. Promotion of Sound Corporate Governance Practices The Company has designed the 2025 Equity Incentive Plan to include a number of features that reinforce and promote alignment of equity compensation arrangements for employees, officers and non-employee directors with the interests of shareholders and the Company. These features include, but are not limited to, the following: ● No Discounted Stock Options or Stock Appreciation Rights (SARs).