Company: AWRE
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0000950170-25-058702
Chunk: 21

Company: AWARE INC /MA/
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 21
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,000 |                 619,000 |
| Mohamed Lazzouni |                          375,000 |                 157,873 |
| David Traverse   |                          100,000 |                  44,000 |

The exercise price per share of the New Options granted pursuant to the Exchange Offer was $2.21 per share. Each New Option vested and became exercisable, with respect to 50% of the shares of common stock underlying such New Option on the first anniversary of the grant date and, with respect to the remaining shares of common stock underlying such New Option, in twelve equal monthly installments thereafter, subject to the continuous service of the holder. The other terms and conditions of the New Options are governed by the terms and conditions of the 2023 Plan and the nonstatutory stock option agreements entered into thereunder. There was no incremental fair value for the New Options.

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The assumptions made to determine the value of these awards are set forth in Note 8 of our Consolidated Financial Statements included in our annual report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on March 13, 2025 (3) Reflects cash awards under performance-based compensation plans from the satisfaction of pre-established performance criteria. The performance criteria for each of our named executive officers is described below under the heading "2024 Executive Bonus Plan". (4) All other compensation represents group term life insurance premiums paid by us on behalf of the executive officers and matching contributions by us under our 401(k) plan for the benefit of the named executive officers. Such amounts for 2024 were as follows:

| Name         |     | 401(k) Matching Contributions ($) |        |     | Group Term Life Insurance Premiums ($) |       |
| Mr. Eckel    |     |                                   | 13,713 |     |                                        | 3,493 |
| Mr. Lazzouni |     |                                   |  7,911 |     |                                        | 3,476 |
| Mr. Traverse |     |                                   |  9,525 |     |                                        |   438 |

(5) Mr. Eckel’s employment by the Company as its Chief Executive Officer and President and his service on the Company’s board of directed terminated as of December 31, 2024. 2024 Executive Bonus Plan On April 5, 2024, the compensation committee approved the Aware, Inc. 202