Company: DMRC
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001437749-25-009135
Chunk: 67

Company: Digimarc CORP
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 67
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 Stock Purchase Plan but the ESPP Committee may, in its discretion, determine to limit participation of employees with less than two years of service, employees with customary employment of 20 hours or less per week or customary employment for not more than five months in a year or lesser period or highly compensated employees. Employees of subsidiaries outside the United States may be excluded from participation or have different eligibility requirements as determined appropriate by the ESPP Committee, for example, to accommodate local requirements and practices. However, any employee who would own or have options to acquire five percent (5%) or more of the total combined voting power or value of all classes of stock of the Company or any subsidiary is excluded from participating in the Employee Stock Purchase Plan. As of March 4, 2025, there were approximately 114 employees who would be eligible to participate in the Employee Stock Purchase Plan.

Purchase of Shares of Common Stock

Pursuant to procedures established by the ESPP Committee, eligible employees may elect to purchase shares of common stock through payroll deductions or other means prescribed by the ESPP Committee. Offering periods and purchase periods are established and purchases of shares of common stock are made on the last trading day of the purchase period. Pursuant to procedures established by the ESPP Committee, employees may withdraw prior to the end of the purchase period any amounts previously withheld, without interest. If during a purchase period an employee withdraws amounts previously withheld, such employee may not recommence withholding of compensation for the purchase of shares of common stock until the following purchase period.

On each purchase date (the last trading day of each purchase period), any amounts withheld from an employee’s compensation or otherwise accumulated during the applicable purchase period for purposes of the Employee Stock Purchase Plan will be used to purchase the greatest number of whole shares of common stock that can be purchased with such amounts. The purchase price for a share of common stock will be set, unless the ESPP Committee determines higher percentages, at the lesser of (i) eighty-five percent (85%) of the fair market value of a share of common stock on the option grant date (beginning of the offering period) or (ii) eighty-five percent (85%) of the fair market value of a share of common stock on the purchase date. As of March 4, 2025 the closing sales price of a share of common stock was $14.78 per share.

The Internal Revenue Code limits the aggregate fair market value of the shares of common stock (determined as of the beginning of the offering period) that any employee in