Company: DSNY
Filing Date: 2025-04-14
Form Type: 10-Q
Source: 0001062993-25-007398
Chunk: 43

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-04-14
Form: 10-Q
Item: Part I, Item 1
Chunk 43
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                  3.27
                   
                  $
                  -

                  Outstanding at February 28, 2025
                   
                  676,001
                   
                  $
                  1.34

                  1.79
                   
                  $
                  -

                  Exercisable at February 28, 2025
                   
                  639,138
                   
                  $
                  1.36

                  1.69
                   
                  $
                  -

      The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company's common stock for the options that were in-the-money as of February 28, 2025. As of February 28, 2025 the aggregate intrinsic value of outstanding and exercisable options were both nil, (February 29, 2024 - $51,912 and $20,022, respectively).
      As of February 28, 2025, there was $16,962 (February 29, 2024 - $59,156) of total unrecognized compensation cost related to non-vested stock-based compensation awards. The unrecognized compensation cost is expected to be recognized over a weighted average period of 0.62 years (February 29, 2024 - 0.83 years).
      During the three and six months ended February 28, 2025, the Company recorded $10,760 and $18,904 in non-cash stock-based compensation, respectively (February 29, 2024 - $10,655 and $24,460, respectively).

          7

      [c] Employee Stock Purchase Plan
      The Company's 2011 Employee Stock Purchase Plan (the "ESPP") became effective on February 22, 2011. Under the ESPP, employees of the Company can contribute up to 5% of their annual salary into a pool which is matched equally by the Company in order to purchase the Company's common shares under certain terms. Directors can contribute a maximum of $12,500 each for a combined maximum annual purchase of $25,000. The maximum annual combined contributions will be $400,000. All purchases are made through TSXV by a third-party plan agent. The third-party plan agent is also responsible for the administration of the ESPP on behalf of the Company and the participants.
      During the three and six months ended February 28, 2025, the Company recognized compensation expense of $14,467 and $