Company: APT
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001437749-25-013635
Chunk: 32

Company: ALPHA PRO TECH LTD
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 32
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 may be granted as incentive stock options. The maximum number of shares subject to awards granted during a single fiscal year to any non-employee director, together with any cash fees paid to such director during the fiscal year, shall not exceed a total value of $400,000 (calculating the value of any awards based on the grant date fair value for financial reporting purposes).

The Board may, at any time and from time to time, amend or terminate the 2020 Incentive Plan; provided, however, that except in certain limited circumstances (e.g., amendments relating to adjustments based upon changes in the common stock and amendments that the Board deems necessary or advisable to provide eligible participants with the maximum benefits provided or to be provided under the provisions of the Code and the regulations promulgated thereunder), no amendment will be effective unless approved by the Company’s shareholders as may be required by applicable laws, stock exchange rules or other regulations. The 2020 Incentive Plan will automatically terminate on June 9, 2030. Subject to any provision in an award agreement to the contrary, upon a change in control of the Company, all outstanding options and stock appreciation rights will become fully exercisable, the restricted period will expire with respect to all outstanding shares of restricted stock or restricted stock units, and all incomplete performance periods in respect of such awards will end on the date of such change and the level of performance shall be determined by the Compensation Committee in accordance with the 2020 Incentive Plan.

Grants of Plan-Based Awards in 2024

The following table provides information with respect to grants made to the Named Executive Officers during fiscal 2024.

| Name             |     | Grant Date |          |     | Number of Shares      
 of Stock or Units (#) |        |     | Grant Date       
 Fair Value of    
 Stock Awards (1) |        |
|:-----------------|:----|:-----------|:---------|:----|:----------------------|-------:|:----|:-----------------|-------:|
| Lloyd Hoffman    |     |            | 1/8/2024 |     |                       | 10,715 |     | $                | 57,004 |
| Danny Montgomery |     |            | -        |     |                       |      - |     |                  |      - |
| Colleen McDonald |     |            | -        |     |                       |      - |     |                  |      - |

| (1) | The amount reported in this column reflects