Company: FGI
Filing Date: 2025-04-18
Form Type: PRE 14A
Source: 0001628280-25-018388
Chunk: 34

Company: FGI Industries Ltd.
Filing Date: 2025-04-18
Form: PRE 14A
Chunk 34
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 to one-third of the shares on the first anniversary of the grant date then in 24 equal monthly installments thereafter.

(4) Represents a service-based restricted stock unit award. Vests in three equal installments in the first, second and third anniversary of the grant date.

(5) Represents a performance-based stock option award pursuant to which 4,060 options were earned based on performance. The options remain subject to vesting based on continued employment on the applicable schedule, which is one-third of the shares vested on the first anniversary of grant date then 1/36 in equal monthly installments over the next two years.

(6) The market value of these unvested awards was calculated using the closing price of our ordinary shares as of December 31, 2024, the last trading day of the year, which was $0.78.

Policies and Procedures Related to the Grant of Certain Equity Awards

The Compensation Committee’s practice, including in 2024, is to grant stock options and other equity awards under the long-term incentive plan following the Company’s public release of its earnings results for the most recently completed fourth quarter and fiscal year. In 2024, that date was several business days prior to the date the Company filed its Annual Report on Form 10-K, which we believe did not include additional material information beyond what was disclosed in its earnings release.

Consistent with this practice, on March 20, 2024, the Company released its earnings results announcing its fourth quarter and full year financial results for the year ended December 31, 2023. The Compensation Committee granted annual stock options on March 22, 2024, in an open trading window two business days following the earnings release. The Compensation Committee believes this represents a sufficient amount of time for the public markets to absorb the

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Company’s earnings results prior to the grant date. Accordingly, the Company does not take material non-public information (“MNPI”) into account when determining the timing and terms of the option awards and has not timed the disclosure of MNPI with the purpose of affecting the value of the options awards.

The following table contains information required by Item 402(x)(2) of Regulation S-K about stock options granted to the executive officers in fiscal 2024 during the period from four business days before to one business day after the filing of the Annual Report on Form 10-K for the year ended December 31, 2023, as described above. Though these options grants