Company: ASTE
Filing Date: 2025-03-14
Form Type: DEF 14A
Source: 0001104659-25-023778
Chunk: 84

Company: ASTEC INDUSTRIES INC
Filing Date: 2025-03-14
Form: DEF 14A
Chunk 84
---
219,377 | ​ | ​ |
| ​ | Total shares underlying outstanding unvested performance-based full value awards              | ​ | ​ | ​             | ​ | 255,617(2) | ​ | ​ |
| ​ | Total shares underlying all outstanding awards                                                | ​ | ​ | ​             | ​ |    474,994 | ​ | ​ |
| ​ | Total shares currently available for grant                                                    | ​ | ​ | ​             | ​ | 567,557(3) | ​ | ​ |
| ​ | Common stock outstanding as of March 1, 2025                                                  | ​ | ​ | ​             | ​ | 22,833,453 | ​ | ​ |
| ​ | Market price of common stock as of March 1, 2025                                              | ​ | ​ | ​             | $ |      35.58 | ​ | ​ |

(1) Includes information regarding all outstanding equity awards and shares available for future awards, which are all under the Prior Plan and the Amended and Restated Non-Employee Directors Stock Incentive Plan. As of March 1, 2025 (and as of the date of this Proxy Statement), no other plans had awards outstanding or shares available for future awards. (2) Assumes performance-based awards will vest and pay out based on maximum performance levels being achieved. (3) Represents the total number of shares available for future awards under the Prior Plan.

As noted above, as of March 1, 2025, there were approximately 567,557 shares reserved and available for future awards under the Prior Plan. The 2025 Equity Incentive Plan authorizes an additional 1,309,500 shares for future grants (representing approximately 5.7% of the Company’s outstanding shares as of March 1, 2025). In setting and recommending to shareholders the number of additional shares to authorize under the 2025 Plan, the Compensation Committee and the Board considered the historical number of equity awards granted under the Prior Plan, potential dilution from the 2025 Equity Incentive Plan, as well as the Company’s three-year average burn rate for the preceding three fiscal years. The aggregate shares shown in the table above (total shares underlying all outstanding awards and total shares currently available for grant) represent a fully-diluted overhang of approximately 4.3% based on the Company’s common shares outstanding as of March 1, 2025. If the 2025 Plan is approved,