Company: INTG
Filing Date: 2025-09-30
Form Type: 10-K
Source: 0001493152-25-016154
Chunk: 193

Company: INTERGROUP CORP
Filing Date: 2025-09-30
Form: 10-K
Item: Item 7A
Chunk 193
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 shares (the “Option Grant”) to the Company’s President and Chief Executive Officer,
John V. Winfield. The stock option grant was approved by shareholders on February 19, 2014. The grant of stock options was made pursuant
to, and consistent with, the 2010 Incentive Plan, as proposed to be amended. The non-qualified stock options are for 133,195 shares and
have a term of ten years, expiring on December 26, 2023, with an exercise price of $18.65 per share. The incentive stock options are
for 26,805 shares and have a term of five years, expiring on December 26, 2018, with an exercise price of $20.52 per share. In accordance
with the terms of the 2010 Incentive Plan, the exercise prices were based on 100% and 110%, respectively, of the fair market value of
the Company’s common stock as determined by reference to the closing price of the Company’s common stock as reported on the
NASDAQ Capital Market on the date of grant. The stock options are subject to time vesting requirements, with 20% of the options vesting
annually commencing on the first anniversary of the grant date. In December 2018, Mr. Winfield exercised the 26,805 vested incentive
stock options by surrendering 17,439 shares of the Company’s common stock at fair value as payment of the exercise price, resulting
in a net issuance to him of 9,366 shares. No additional compensation expense was recorded related to the issuance.

In
March 2017, the Compensation Committee awarded 18,000 stock options to the Company’s Chief Operating Officer, David C. Gonzalez,
to purchase up to 18,000 shares of common stock. The per share exercise price of the options is $27.30 which is the fair value of the
Company’s Common Stock as reported on the NASDAQ Capital Market on March 2, 2017. The options expire ten years from the date of
grant. Pursuant to the time vesting requirements, the options vest over a period of five years, with 3,600 options vesting upon each
one-year anniversary of the date of grant. All 18,000 shares were vested as of June 30, 2025.

On
October 13, 2023, the Compensation Committee awarded 18,000 stock options to the Company’s