Company: IMXI
Filing Date: 2025-05-12
Form Type: DEFR14A
Source: 0001683695-25-000065
Chunk: 76

Company: International Money Express, Inc.
Filing Date: 2025-05-12
Form: DEFR14A
Chunk 76
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&R 2020 Plan) of all grants to any non-employee director during any single calendar year, plus the total cash compensation paid to the director for services as a director rendered for a calendar year, shall not exceed $750,000, representing an increase from $500,000 and a modification of such limitation such that it will apply only for services rendered as a director rather than for services rendered in all capacities (for example, as both a director and as a consultant), and

• adds that after March 31, 2025, shares tendered (either physically or by attestation) or withheld by the Company for purposes of satisfying tax withholding obligations with respect to grants other than options or stock appreciation rights granted under the A&R 2020 Plan shall again be available for purposes of the A&R 2020 Plan.

In addition, certain other minor or ministerial changes have been included in the A&R 2020 Plan.

The purpose of the A&R 2020 Plan is to provide eligible employees, directors and other service providers the opportunity to receive stock-based incentive awards in order to encourage such persons to contribute materially to our growth and align the economic interests of such persons with those of our stockholders. As discussed in the “Compensation Discussion and Analysis” above, our overall compensation objective is to attract and retain exceptional executives in a competitive labor market and create the proper incentives that encourage executive share ownership and align executive compensation with Company performance and the creation of long-term value. The A&R 2020 Plan continues to be an important component of our compensation program for our executives and other key employees and service providers. The Compensation Committee’s philosophy is that executive compensation should be more heavily weighted towards performance-based, at-risk compensation. Our ability to grant equity-based awards allows us to make a substantial portion of our executive officers’ compensation at-risk and contingent on the Company’s operating and stock-price performance over the long-term.

The Board believes that additional common shares are necessary to meet the Company’s anticipated equity compensation needs and that the amendment and restatement of the 2020 Plan is in the best interests of the Company and its stockholders. The proposed increase to the share reserve under the A&R 2020 Plan is expected to last two to three years. This estimate is based on a forecast that takes into account our anticipated rate of growth in hiring, an estimated range of our share price over time and our historical forfeiture rates, as well as the number of shares we have available for grant under the 2020 Plan prior to the amendment