Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 301

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 301
---
 our executives and our stockholders. In addition, the vesting feature
of our equity awards contributes to executive retention by providing an incentive for our executives to remain in our employment during the
vesting period. Currently, our executives are eligible to participate in our 2019 Stock Incentive Plan, which we refer to as the 2019
Plan. Following the consummation of this offering, our employees and executives will be eligible to receive stock-based awards pursuant
to our 2019 Plan. Under our 2019 Plan, executives will be eligible to receive grants of stock options, restricted stock awards, restricted
stock unit awards, stock appreciation rights and other stock-based equity awards at the discretion of our Board of Directors.

59

Our
employee equity awards have typically been in the form of stock options. Because our executives profit from stock options only if our
stock price increases relative to the stock option’s exercise price, we believe stock options provide meaningful incentives for
our executives to achieve increases in the value of our stock over time. While we currently expect to continue to use stock options as
the primary form of equity awards that we grant, we may in the future use alternative forms of equity awards, such as restricted stock
and restricted stock units. To date, we have generally used equity awards to compensate our executive officers in the form of initial
grants in connection with the commencement of employment. In the future, we also generally plan to grant equity awards on an annual basis
to our executive officers. We may also make additional discretionary grants, typically in connection with the promotion of an employee,
to reward an employee, for retention purposes or in other circumstances recommended by management.

We
normally grant stock awards that will vest 25% of the shares on the first anniversary of the grant date and with respect to the remaining
shares in approximately equal quarterly installments through the fourth anniversary of the grant date. Vesting cease upon termination
of employment and exercise rights cease shortly after termination of employment. Prior to the exercise of a stock option, the holder
has no rights as a stockholder with respect to the shares subject to such option, including voting rights or the right to receive dividends
or dividend equivalents.

We
have granted, and going forward expect to grant, stock options with exercise prices that are set at no less than the fair value of shares
of our common stock on the date of grant as determined by our Board of Directors.

Benefits
and Other Compensation

We
believe that establishing competitive benefit packages for