Company: DSNY
Filing Date: 2025-11-24
Form Type: 10-K
Source: 0001062993-25-016994
Chunk: 349

Company: DESTINY MEDIA TECHNOLOGIES INC
Filing Date: 2025-11-24
Form: 10-K
Item: Item 9
Chunk 349
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EMPLOYMENT AGREEMENT WITH OUR NAMED EXECUTIVE OFFICERS

We are not party to any written employment agreement or change in control arrangements with Mr. Vandenberg and Ms. Mendesh. We do not have any agreements with Mr. Vandenberg and Ms. Mendesh regarding the payments of bonus or other performance incentives. Mr. Vandenberg and Ms. Mendesh are eligible to receive stock options as and when approved by our Board of Directors.

OUTSTANDING EQUITY AWARDS AT FISCAL YEAR END

The following table summarizes equity awards granted to our named executive officers that were outstanding as of August 31, 2025:

                    Name and Principal Position
                    Number ofSecuritiesUnderlyingUnexercisedOptions #Exercisable
                    # Unexercisable
                    Incentive PlanAwards:Number ofSecuritiesUnderlyingUnexercisedOptions
                    WeightedAverage OptionExercise Price$
                    OptionExpirationDate

                    Frederick Vandenberg,Chief Executive Officer
                    80.000
                    -
                    -
                    1.50
                    31-Oct-2026

                    20,000
                    -
                    -
                    0.85
                    23-Jul-2028

LONG-TERM INCENTIVE PLANS

The Company has an Employee Stock Purchase Program whereby all employees of the Company are eligible to contribute up to 5% of their annual salary into a pool which is matched equally by the Company. Independent directors are able to contribute a maximum of $12,500 each annually, for a combined maximum annual purchase of $25,000. The aggregate maximum annual contributions is limited to $400,000. Money in the pool is used to purchase shares out of the market on a semi-monthly basis. All purchases are made through the Exchange by a third-party plan agent and no purchases are made on the OTC or German exchanges. The third-party plan agent is also responsible for the administration of the Plan on behalf of the Company and the participants.

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Additionally,the Company has the 2015 Stock Option Plan and 2022 Stock Option Plan, under which up to an aggregate of 1,530,000 shares of the common stock have been reserved for issuance. As at August 31, 2025, an aggregate of 853,370 common shares remained eligible for issuance under the plans. The options generally vest over a range of periods from the date of grant, some are immediate, and others are at 24 months. Any options that