Company: CPSH
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001437749-25-008032
Chunk: 34

Company: CPS TECHNOLOGIES CORP/DE/
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 34
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 of the award on the date of grant computed pursuant to FASB ASC Topic 718 in the Company’s financial statements, not reduced by the estimated forfeiture rate. The fair value of the option was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants in fiscal 2024: dividend yield of 0%, expected volatility of 61.2%, risk-free interest rate of 4.28%, and expected life of 7.6 years. |

| (4) | Mr. Hughes had an aggregate of 128,100 options outstanding at the 2024 fiscal year-end, all of which were fully vested and exercisable. Mr. Culligan had an aggregate of 0 options outstanding at the 2024 fiscal year-end. Mr. Norwood had an aggregate of 103,100 options outstanding at the 2024 fiscal year-end, all of which were fully vested and exercisable. Dr. Snow had an aggregate of 38,100 options outstanding at the 2024 fiscal year-end, all of which were fully vested and exercisable. Mr. Bennett had an aggregate of 32,600 options outstanding at the 2024 fiscal year-end, all of which were fully vested and exercisable. Mr. Cavoli had an aggregate of 15,000 options outstanding at the 2024 fiscal year-end, all of which were fully vested and exercisable. |

| (5) | Amount represents expenses reimbursed for travel. |

| (6) | Amount represents the award on December 10, 2024 of a non-qualified option to purchase 15,000 shares of Common Stock at $1.58 per share, which vested in full on date of grant and has a 10 year term. The dollar amount presented represents the aggregate fair value of the award on the date of grant computed pursuant to FASB ASC Topic 718 in the Company’s financial statements, not reduced by the estimated forfeiture rate. The fair value of the option was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted average assumptions used for grants in fiscal 2024: dividend yield of 0%, expected volatility of 61.2%, risk-free interest rate of 4.16%, and expected life of 7.6 years. |

| (7) | Mr. Culligan resigned from the Board effective June 21, 2024. |

| (8) | Mr. Cav