Company: NOTV
Filing Date: 2025-01-23
Form Type: DEF 14A
Source: 0001628280-25-002250
Chunk: 34

Company: Inotiv, Inc.
Filing Date: 2025-01-23
Form: DEF 14A
Chunk 34
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 fair market value of one share of our common stock on the date of grant (or 110% for incentive options granted to certain shareholders), unless the option is granted as a substitute award as described earlier. “Fair market value” under the 2024 Plan as of any date means the average of the high and the low sales prices of a common share on the principal securities market on which it trades on the day immediately preceding the date of determination.

An option will vest and become exercisable at such time, in such installments and subject to such conditions as may be determined by the Committee, and no option may have a term greater than 10 years from its date of grant (or five years for incentive stock options granted to certain shareholders). No dividends or dividend equivalents may be paid or credited with respect to shares subject to an option award.

The aggregate fair market value of shares of our common stock with respect to which incentive options granted to any participant may first become exercisable during any calendar year may not exceed $100,000. Any incentive stock options that become exercisable in excess of this amount will be treated as non-qualified options. The maximum number of shares that may be issued upon the exercise of incentive option awards under the 2024 Plan is equal to the size of the 2024 Plan’s share reserve as described above.

The total purchase price of the shares to be purchased upon exercise of an option will be paid by the participant in such manner as the Committee may provide in the award agreement, which may include (i) cash, (ii) delivery of common shares (by actual delivery or attestation) already owned, (iii) by withholding common shares otherwise issuable upon exercise of the Stock Option, (iv) broker-assisted cashless exercise, (v) any other manner permitted by law, or (vi) any combination of the foregoing.

Stock Appreciation Rights. A SAR entitles the holder to receive, for each share as to which the award is granted, payment of an amount, in cash, in common shares, or in a combination, as determined by the Committee, equal in value to the excess of the fair market value of a common share on the date of exercise over the SAR’s exercise price.

The exercise price per share of a SAR award will be determined by the Committee, but may not be less than 100% of the fair market value of one common share, unless the SAR is granted as a substitute award as described earlier. No dividends or dividend equivalents may be paid or credited with respect to