Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 2204

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 11
Chunk 2204
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 that represents a conditional right to receive shares
of our common stock in the future and that may be made subject to the same types of restrictions and risk of forfeiture as restricted
stock. A deferred stock unit is a restricted stock unit that may be settled at some point in the future at a time or times consistent
with the requirements of Section 409A of the Code.

Stock Appreciation Rights

A SAR is a right to receive
upon exercise, in the form of common stock, cash or a combination of common stock and cash, the excess of the fair market value of one
share of common stock on the exercise date over the grant price of the SAR. SARs may be granted in conjunction with all or a part
of any option or other award granted under the 2024 Plan, or without regard to any option or other award. Upon exercise of a SAR, the
holder will be entitled to receive, in the specified form of consideration, the excess of the fair market value of one share of our common
stock on the exercise date over the exercise price of the SAR, as determined by our Compensation Committee. The exercise price of a SAR
may not be less than the fair market value of a share of our common stock on the grant date.

Dividend Equivalent Rights

Dividend equivalent rights
entitle the grantee to receive cash, shares of our common stock, or a combination of both equal to the amount of that the grantee would
have received had the grantee held a specified number of shares of our common stock during the period. Dividend equivalent rights may
be granted independently or in connection with the grant of any equity-based award, except that no dividend equivalent right may
be granted in connection with, or related to an option or SAR.

Other Equity-Based Awards

Our Compensation Committee
may grant other types of equity-based or equity-related awards in such amounts and subject to such terms and conditions as
our Compensation Committee may determine, including unrestricted stock and dividend equivalent rights which are described in more detail
in the 2024 Plan.

Changes to Capital Structure

In the event of a merger,
reorganization, recapitalization, reclassification, stock split, reverse stock split, spin-off combination of shares, exchange of
shares, stock dividend or other distribution payable in capital stock, or other increase or decrease in such shares effected without
the receipt of consideration by us, then the number and kind of shares for which grants of options and other awards