Company: DGLY
Filing Date: 2025-02-06
Form Type: S-1/A
Source: 0001493152-25-005144
Chunk: 135

Company: DIGITAL ALLY, INC.
Filing Date: 2025-02-06
Form: S-1/A
Chunk 135
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4. The Committee also determined that Messrs. Ross, Heckman, and Han would be eligible in 2024 for awards of restricted stock or stock options. On January 31, 2024, the Compensation Committee awarded Stanton E. Ross 20,000 shares of restricted common stock that will vest 100% on January 31, 2025 provided that he remains an officer on such dates. Peng Han was awarded 15,000 shares of restricted common stock that will vest on January 31, 2025 provided that he remains an officer on such dates.

Bonuses. The Compensation Committee determined to award no bonuses to each of the executive officers in 2023 and 2024, as set forth in the foregoing table. Refer to the “Summary Compensation Table” above.

Other. In July 2008, we amended and restated our 401(k) Plan. The amended 401(k) Plan requires us to provide a 100% matching contribution for employees who elect to contribute up to 3% of their compensation to the plan and a 50% matching contribution for employees’ elective deferrals between 4% and 5%. We have made matching contributions for executives who elected to contribute to the 401(k) Plan during 2024. Each participant is 100% vested at all times in employee and employer matching contributions. Mr. Heckman, as trustee of the 401(k) Plan, holds the voting power as to the shares of our common stock held in the 401(k) Plan. We have no profit-sharing plan in place for our employees. However, we may consider adding such a plan to provide yet another level of compensation to our compensation plan.

| 85 |

The following table presents information concerning the grants of plan-based awards to the Named Executive Officers during the year ended December 31, 2024:

<div align='center'>Grants of Plan-Based Awards</div>

| Name                         
 Stanton E. Ross              |     | Grant date |                  |     | Date approved by Compensation Committee |                  |     | All other stock awards: Number of shares of stock or units: 
 (#) (1) (2)                                                 |        |    |     | Exercise or base price of option awards 
 ($/Share)                               |      |     | Grant date fair value of stock awards 
 ($) (2)                               |        |
|:-----------------------------|:----|:-----------|:-----------------|:----|:----------------------------------------|:-----------------|:----