Company: CPSH
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001437749-25-008032
Chunk: 31

Company: CPS TECHNOLOGIES CORP/DE/
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 31
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ments commencing on the first anniversary of the date of grant, with a term of 10 years.    
 Granted on February 28, 2024 with vesting in five equal annual installments commencing on the first anniversary of the date of grant, with a term of 10 years. |
| (3) | Granted on April 8, 2019 with vesting in five equal annual installments commencing on the first anniversary of the date of grant, with a term of 10 years.     |
| (4) | Granted on March 3, 2020 with vesting in five equal annual installments commencing on the first anniversary of the date of grant, with a term of 10 years.     |
| (5) 
 (6) 
 (7) 
 (8) | Granted on May 13, 2021 with vesting in five equal annual installments commencing on the first anniversary of the date of grant, with a term of 10 years.      
 Granted on April 25, 2023 with vesting in five equal annual installments commencing on the first anniversary of the date of grant, with a term of 10 years.    
 Granted on August 16, 2021 with vesting in five equal annual installments commencing on the first anniversary of the date of grant, with a term of 10 years.   
 Granted on January 28, 2022 with vesting in five equal annual installments commencing on the first anniversary of the date of grant, with a term of 10 years.  |

Equity Incentive Plans

The Company currently administers the 2009 Plan, which expired in December 2019 but which will remain in effect until all awards outstanding under such plan have been exercised or expire, and the 2020 Plan. At December 28, 2024, options to purchase 798,300 shares were outstanding under the Plans.

The goal of the Company’s equity incentive awards is to promote the success and interests of the Company and its stockholders by permitting and encouraging recipients to obtain a proprietary interest in the Company or any subsidiaries through the grant and exercise of such awards, and motivating such recipients to remain with the Company and work towards its success.

Grants in Fiscal Year 2024

On February 22, 2024, the Board approved the grant of options under the 2020 Plan to purchase 25,000 shares, to an employee as part of a promotion package. These