Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 47

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1A
Chunk 47
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 sets forth for each director, information regarding their compensation for the year ended December 31, 2024:

      Stock Awards 

      Total 

      Name (1) 
      
      ($) (2) 

      ($) 

      Robert J. Michel (3) 

     6,002

     13,002

      Emmanuel Alia (4) 

     6,002

     12,002

      Cameron Williams (5) 

     6,002

     13,002

      (1) 
      Mr. DePasquale and Kelvin Wong have been omitted from the above table because they do not receive any additional compensation for serving on our Board of Directors. 

      (2) 
      The aggregate fair value of the common stock issued was calculated based on the closing price of our common stock on the date of issuance in accordance with FASB ASC 718. 

     (3)
     At December 31, 2024, Mr. Michel held options to purchase 36 shares of common stock and held 6.365 shares of restricted common stock.

     (4)
     At December 31, 2024, Mr. Alia held options to purchase 18 shares of common stock and held 6,365 shares of restricted common stock.

     (5)
     At December 31, 2024 Mr. Williams held 6,365 shares of restricted common stock.

Narrative Disclosure to Director Compensation Table

During 2024, we had a policy to pay each non-employee director $3,000 per board meeting, and $1,000 per board committee meeting attended. Fees for attendance at regular quarterly board meetings held during the first three quarters of each fiscal year are paid through the issuance of common stock and payments for the last meeting of the year are paid in cash or, at the option of the director, in shares of common stock. All of our directors elected to receive payment in common stock for the first and second board meeting in 2024. All directors will be indemnified by us for actions associated with being a director to the fullest extent permitted under Delaware law. We reimburse each of our non-employee directors for their reasonable expenses incurred in connection with attending meetings of the board of directors and related committees. 

    34

ITEM 12.   SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

The following table sets forth, as of April 21