Company: OPGN
Filing Date: 2025-08-21
Form Type: 10-K
Source: 0001829126-25-006628
Chunk: 1077

Company: OPGEN INC
Filing Date: 2025-08-21
Form: 10-K
Item: Item 6
Chunk 1077
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Lazar will also be eligible for annual bonuses of up to 100% of his then current base salary (payable in cash or restricted stock) and an annual grant of incentive equity awards in an amount equal to 100% of his then current base salary. The employment agreement has a three (3) year term. Mr. Lazar is also entitled to a bonus upon a change of control of the Company payable in a lump-sum amount equal to three percent (3%) of the increased valuation of the Company resulting from the change of control. Such bonus is payable in cash, restricted stock or a combination thereof. In connection with the Mr. Lazar’s July 2024 transaction pursuant to which he sold his shares of Series E Preferred Stock together with his rights to purchase the additional shares of Series E Preferred Stock under the March 2024 Purchase Agreement to AEI Capital Ltd., Mr. Lazar resigned as CEO, Chairman and Director of the Company, effective August 2, 2024, but he currently maintains a role as President.

In conjunction with Mr. Lazar’s resignation as CEO, Chairman and Director of the Company, effective August 2, 2024, on August 2, 2024, the Board appointed John Tan Honjian as Chief Executive Officer, Chairman and Director of the Company.

Outstanding Equity Awards at Fiscal Year-End Table

The following table shows the outstanding equity awards held by the named executive officers as of December 31, 2024.

    OPTION AWARDS

    STOCK AWARDS

    Name
     
    Number of Securities Underlying Unexercised Options Exercisable

    Number of Securities Underlying Unexercised Options Unexercisable

    Equity Incentive Plan Awards: Number of Securities Underlying Unexercised Unearned Options

    Option Exercise Price($)

    Option Expiration Date

    Number of Shares of Stock that have not Vested

    Market Value of Shares of Stock that have not Vested($) (1)

    Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights that have not Vested

    Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or other Rights that have not Vested($) (1)

    Mohd Azham Azudin(2)

    -

    -

    -

    -

    -

    31,250

    $
    18,594

    -

    -

    (1)