Company: ZVRA
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001437749-25-016523
Chunk: 91

Company: ZEVRA THERAPEUTICS, INC.
Filing Date: 2025-05-13
Form: 10-Q
Item: Part I, Item 1
Chunk 91
---
 Incentive Plan (the “A&R 2014 Plan”), following its adoption by the Board in  April 2021, which among other things added 4,900,000 shares to the maximum number of shares of common stock to be issued under the plan and extended the annual automatic increases (discussed further below) until  January 1, 2031 and eliminated individual grant limits that applied under the 2014 Plan to awards that were intended to comply with the exemption for “performance-based compensation” under Code Section 162(m). The maximum number of shares of common stock that  may be issued under the A&R 2014 Plan was 12,079,711 as of  March 31, 2025. The number of shares of common stock reserved for issuance under the A&R 2014 Plan automatically increases on  January 1 of each year, beginning on  January 1, 2016, and ending on and including  January 1, 2031, by 4% of the total number of shares of the Company’s capital stock outstanding on  December 31 of the preceding calendar year, or a lesser number of shares determined by the Board. Pursuant to the terms of the A&R 2014 Plan, on  January 1, 2025, the common stock reserved for issuance under the A&R 2014 Plan automatically increased by 2,146,828 shares.
    
   During the three months ended  March 31, 2025, and  March 31, 2024, 889,025 and 716,875 stock options were exercised, respectively. 
    
   In  June 2021, the Company's stockholders approved an Employee Stock Purchase Plan (the “ESPP”), following its adoption by the Board in  April 2021. The maximum number of shares of common stock that  may be issued under the ESPP is 1,500,000. The first offering period under the ESPP began on  October 1, 2021, and the first purchase date occurred on  May 31, 2022. As of  March 31, 2025, 351,988 shares have been issued under the ESPP.
    
   In  January 2023, the Board approved the