Company: DMRC
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001437749-25-005471
Chunk: 135

Company: Digimarc CORP
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 135
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 of Directors out of funds legally available for such purpose, as well as any distributions to the Company’s shareholders. In the event of the Company’s liquidation, dissolution or winding up, holders of common stock are entitled to share ratably in all of the Company’s assets remaining after payment of liabilities and the liquidation preference of any then outstanding preferred stock. Holders of common stock have no preemptive or other subscription or conversion rights. There are no redemption or sinking fund provisions applicable to the common stock. All outstanding shares of common stock are fully paid and non-assessable.

        F-
       21

        DIGIMARC CORPORATION

        NOTES TO CONSOLIDATED FINANCIAL STATEMENTS – (Continued)

        (In thousands, except per share data)

   Registered Direct Offering
    
   On  February 24, 2024, the Company entered into purchase agreements with certain investors providing for the issuance and sale by the Company of 929 common shares in a registered direct stock offering. The common shares were offered at a price of $35.00 per share, and the gross cash proceeds to the Company were $32,500. The Company incurred $282 of legal costs related to the offering. The closing of the registered direct offering occurred on  February 27, 2024.
    
     Stock Incentive Plan

       In
       March 2018, the Company’s Board of Directors approved the
      2018 Incentive Plan (
      “2018 Plan”) which was later approved by the Company’s shareholders at the Company’s
      2018 Annual Meeting of Shareholders in
       April 2018. The
      2018 Plan replaced the
      2008 Incentive Plan (
      “2008 Plan”). The
      2018 Plan provides for the grant of incentive and, stock appreciation rights, stock awards, restricted stock awards, restricted stock units, performance shares, performance units, and other stock or cash-based awards, which
       may be granted to officers, directors, employees, consultants, agents, advisors and independent contractors who provide services to the Company and its affiliated companies.

       In
       May 2023, the 
      2018 Plan was modified as approved by the Company’s shareholders at the Company’s
      2023 Annual Meeting of Shareholders. The amendment added
      1,200 shares to the pool of shares authorized for issuance.

       The
      2018 Plan authorizes the issuance