Company: XXII
Filing Date: 2025-04-30
Form Type: 10-K/A
Source: 0001641172-25-006806
Chunk: 16

Company: 22nd Century Group, Inc.
Filing Date: 2025-04-30
Form: 10-K/A
Chunk 16
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 that position that are strategic for the Company in achieving its goals.

| 10 |

For fiscal 2025, the Compensation Committee set target bonus levels as follows:

| Name                                         
 Lawrence D. Firestone                        |     | Target Bonus % of Base Salary |     |   |     | Target Cash Bonus |         |
|:---------------------------------------------|:----|:------------------------------|----:|:--|:----|:------------------|--------:|
| Chief Executive Officer                      |     |                               | 100 | % |     | $                 | 425,000 |
| Daniel A. Otto                               |     |                               |     |   |     |                   |         |
| Chief Financial Officer                      |     |                               |  75 | % |     | $                 | 236,250 |
| Jonathan Staffeldt                           |     |                               |     |   |     |                   |         |
| General Counsel                              |     |                               |  75 | % |     | $                 | 236,250 |
| Robert Manfredonia                           |     |                               |     |   |     |                   |         |
| Executive Vice President Sales and Marketing |     |                               |  75 | % |     | $                 | 206,250 |
| Scott Marion                                 |     |                               |     |   |     |                   |         |
| Vice President Manufacturing Operations      |     |                               |  75 | % |     | $                 | 206,250 |

Long-Term Equity Incentive Program Compensation

Our 2021 Omnibus Incentive Plan, as amended and restated, authorizes the Company to grant various types of equity awards, including stock options and restricted stock units, as incentives for management to increase stockholder value. Equity awards are granted to executive officers as long−term incentives in order to align executives’ performance with the interests of the Company’s stockholders. In addition, the multi-year nature of the vesting periods of such awards encourages executive retention.

Our Compensation Committee has authority to determine eligible participants, the types of awards, and the terms and conditions of awards. Upon review of the Company’s financial performance for 2024, the Committee determined to forego issuance of long-term equity incentive awards for 2024.

For 2025, the Compensation Committee has developed a new long-term equity incentive program, whereby recipients equity awards will be aligned to the prior fiscal years achieved cash bonus, with initial grants for fiscal 2025 being set as equal to the