Company: OLP
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001140361-25-013961
Chunk: 31

Company: ONE LIBERTY PROPERTIES INC
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 31
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 connection with the grant of options, they are potentially less dilutive. Generally, our grants of restricted stock are made in January of each year in recognition of services provided for the prior year and the RSUs are granted in June/July of each year. We do not have a formal policy on timing these grants in connection with the release of material non-public information and in view of, among other things, the three-year and five-year cliff vesting requirements with respect to RSUs and restricted stock awards, respectively, we do not believe such a formal policy is necessary. Executive Benefits and Perquisites Full-time Officers: We provide our full-time officers with a competitive benefits and perquisites program. We recognize that similar benefits and perquisites may be provided at other companies with which we might compete for talent. We review our benefits and perquisites program periodically to ensure it remains fair to our officers and employees. Part-time Officers: The perquisites afforded to these officers are provided by Majestic and its affiliates; our board and its committeesare not involved in determining the perquisites paid to such officers. Employment and Severance Agreements; Post-Employment Benefits; Change of Control None of our named executive officers have employment or severance agreements with us. They are “at will” employees who serve at the pleasure of our board of directors. We do not provide for any post-employment benefits to our named executive officers other than their entitlement to the benefits payable pursuant to our defined contribution pension plan and, as described below, the accelerated vesting of our restricted stock awards and RSUs as a result of death, disability, retirement or a change of control. Generally, in the event of death, disability ( i.e., the inability to engage in gainful activity due to a life threatening or long lasting mental or physical impairment) or retirement ( i.e., the individual retires after having reached the age of 65 and worked for us for at least ten consecutive years), such person’s restricted stock vests fully and a pro-rataportion (based on, among other things, the amount of time between the grant and the triggering event) of their RSUs will vest if and to the extent the applicable performance or market conditions are met as of the completion of the applicable three year performance cycle. In addition, upon a change of control, the (i) shares of restricted stock vest fully and (ii) the RSU’s vest fully if such change occurs 18 months after the beginning of the applicable performance cycle ( the “Cycle Mid-Point”) and,