Company: NDRA
Filing Date: 2025-10-17
Form Type: PRE 14A
Source: 0001654954-25-011931
Chunk: 31

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-17
Form: PRE 14A
Chunk 31
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 | Represents unvested portion of stock option award which vests in three equal annual installments beginning on March 28, 2023.                                                                                                                                                                                                                                                                                                                                                                                                                |
| (4) | Represents unvested portion of stock option award which vests in three equal annual installments beginning on January 30, 2024.                                                                                                                                                                                                                                                                                                                                                                                                              |
| (5) | Represents unvested portion of stock option award which vests in three equal annual installments beginning on February 5, 2022.                                                                                                                                                                                                                                                                                                                                                                                                              |

Director Compensation

Effective January 30, 2023, the Company adopted a non-employee director compensation policy (the “Compensation Policy”) pursuant to which each of our non-employee directors receives, upon his or her initial election to the Board of Directors, a stock option exercisable for 2,500 shares of common stock with a per share exercise price equal to the closing price of the common stock on the Nasdaq on the grant date. All such stock options vest in three equal annual installments beginning on the one-year anniversary of the grant date. Under the Compensation Policy, on the first trading day of each calendar year, each non-employee director is awarded a stock option exercisable for 600 shares of common stock, with a per share exercise price equal to the closing price of the common stock on the Nasdaq on the grant date, which becomes exercisable in three equal annual installments beginning on the first anniversary of the grant date. Additionally, pursuant to the Compensation Policy, each non-employee director is paid an annual cash retainer of $40,000, prorated for partial years of service and paid quarterly in arrears.

The Company did not issue annual stock option awards in January 2025 pursuant to the Policy, and the Board of Directors intends to update the Compensation Policy in light of the impact of the August 2024 Reverse Stock Split and the November 2024 Reverse Stock Split. In lieu of the annual stock awards otherwise issuable in 2025 pursuant to the Compensation Policy, effective July 11, 2025 each non-employee director was granted 5,384 restricted stock units ("RSUs") that convert to common stock on a one-for-one basis. The RSUs will vest in full on June 11, 2026.

The following table sets forth information with respect to compensation earned by or awarded to each of our non-employee directors who served on the Board of Directors during the fiscal year ended December 31, 2024:

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