Company: BKTI
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009464
Chunk: 614

Company: BK Technologies Corp
Filing Date: 2025-03-27
Form: 10-K
Item: Item 6
Chunk 614
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 non-vested restricted stock units under the Company’s non-employee director share-based incentive compensation plan is as follows:

           Weighted Average  
       Grant Date  
 Year ended December 31, 2024   Number of Shares    Price per Share  
 Unvested as of January 1, 2024   19,587  $13.22 
 Granted   58,760   12.20 
 Vested and issued   (33,801)  11.74 
 Cancelled/forfeited   —   — 
 Unvested as of December 31, 2024   44,546  $12.99 

           Weighted Average  
 Year ended December 31, 2023   Number of Shares    Price per Share  
 Unvested at January 1, 2023   41,129  $13.20 
 Granted   45,412  $12.37 
 Vested and issued   (66,954) $12.63 
 Cancelled/forfeited   —   — 
 Unvested at December 31, 2023   19,587  $13.22 

   During the year ended  December 31, 2024 and 2023, the Company also issued 8,960 RSUs under a consulting agreement for advisory services to the Board of Directors.  The principal of the consulting firm was elected as the Chairman of the Board of Directors in  December 2023.
    
   During 2024 and 2023, the Company’s Board of Directors approved the Executive Salary Swap Plan to prospectively swap a portion of certain executive’s salaries for a 12 month period (10% minimum, up to 50%) otherwise payable in cash for a grant of RSUs (with each RSU representing a contingent right to receive one share of the Company’s Common Stock) at a fixed rate of $10 per share, rounded down to the nearest whole RSU.  The Restricted Stock Units vested at the date of the grant. The Company issued 13,979 and 6,739 RSUs under this arrangement during  December 31, 2024 and 2023, respectively.
    
   As of  December 31, 2024 and 2023, there was approximately $1,419 and $682