Company: BCHT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002237
Chunk: 34

Company: Birchtech Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 34
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 requires the consent of the participant. 

 19Table of Contents

2017 Plan 

The 2017 Plan was adopted by the Board on February 9, 2017. The 2017 Plan will terminate on the tenth anniversary of the date of its initial adoption by the Board, unless earlier terminated by the Board. As amended by the Board on July 3, 2023, the maximum number of shares of common stock that may be issued under the 2017 Plan after July 3, 2023 is 14,078,459, and to the extent any award (or portion thereof) outstanding under the 2014 Plan expires, terminates or is cancelled, surrendered or forfeited for any reason on or after July 3, 2023, the shares of common stock subject to such award (or portion thereof) shall be added to and increase the foregoing limit, to a maximum of 4,775,000 additional shares of common stock. Since July 3, 2023, the foregoing limit increased to a total of 3,425,000 shares of common stock at December 31, 2024 as a result of the expiration or forfeiture of awards under the 2014 Plan subsequent to July 3, 2023.  As at December 31, 2024, there were 9,200,000 options and 50,000 RSUs outstanding under the 2017 Plan (representing 9.61% of the issued and outstanding shares, and 5,741,306 shares of common stock (representing 5.97% of the issued and outstanding shares) available for future grant under the 2017 Plan. 

Administration.  The 2017 Plan is administered by the Board (the “Administrator”). Subject to the policies of the TSX, the Administrator has full authority to determine who will receive awards and to determine the types of awards to be granted as well as the amounts, terms, and conditions of any awards. Each award shall be evidenced by a written or electronic award agreement in the form approved by the Administrator and, if required by the Administrator, executed by the recipient of the award. Awards shall vest at such time or times and subject to such terms and conditions as shall be determined by the Administrator at the time of grant. The Administrator has the right to determine any questions that may arise regarding the interpretation and application of the provisions of the 2017 Plan and to make, administer, and interpret such rules and regulations as it deems