Company: IIIV
Filing Date: 2025-01-10
Form Type: DEF 14A
Source: 0001728688-25-000006
Chunk: 42

Company: i3 Verticals, Inc.
Filing Date: 2025-01-10
Form: DEF 14A
Chunk 42
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 with the Company, the promotion of an executive to a new position or in recognition of special contributions made by an executive. As discussed above, in the fiscal year ended September 30, 2024, the Compensation Committee determined to approve the grant of long-term equity-based incentive awards to our named executive officers principally in the form of time-based vesting stock options (other than the grant of RSUs made to Mr. Smith in connection with his promotion to Chief Financial Officer).

The following summarizes the grant of long-term equity awards to our named executive officers (other than Mr. Daily) during the fiscal year ended September 30, 2024. Consistent with past practice, the Compensation Committee decided, in consultation with Mr. Daily, to award no equity compensation to Mr. Daily in fiscal year 2024 due to his considerable ownership share in the Company.

Stock Options . In February 2024, the Compensation Committee approved the grant of time-based vesting stock options to Messrs. Whitson, Stanford, Maple, Christians and Smith exercisable for 100,000, 100,000, 75,000, 75,000 and 75,000 shares of Class A Common Stock, respectively, with a grant date of February 13, 2024. The options had an exercise price of $19.22, the closing stock price of the Company’s Class A common stock on the grant date.

Restricted Stock Units (RSUs) . In connection with the promotion of Mr. Smith to Chief Financial Officer in September 2024, the Compensation Committee approved the grant of 15,000 time-based vesting RSUs at such time to Mr. Smith, which RSUs vest in equal installments over a four-year period and are settled in shares of Class A common stock, provided Mr. Smith is employed by the Company on the applicable vesting date. No other named executive officer was granted RSUs during fiscal year 2024.

2024 Fiscal Year Performance With Respect to Vesting of Previously Granted Performance Stock Units (PSUs)

During the fiscal year ended September 30, 2022, the Compensation Committee approved the grant of PSUs in respect of 25,000 shares of Class A common stock to each of Messrs. Whitson, Stanford, Maple and Smith. Additionally, in the fiscal year ended September 30, 2023, the Compensation Committee approved the grant of 25,000 PSUs to Mr. Christians in connection with his promotion to Chief Operating Officer at such time (these PS