Company: ISBA
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000842517-25-000053
Chunk: 22

Company: ISABELLA BANK CORP
Filing Date: 2025-03-12
Form: 10-K
Item: Item 12
Chunk 22
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Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

For information concerning the security ownership of certain owners and management, see “Security Ownership of Certain Beneficial Owners and Management” in the Proxy Statement which is incorporated herein by reference.

Equity Compensation Plan Information

The following table provides information as of December 31, 2024, with respect to compensation plans under which our common shares are authorized for issuance to directors, officers or employees in exchange for consideration in the form of goods or services.Plan CategoryNumber of Securitiesto be IssuedUpon Exercise ofOutstandingOptions, Warrants,and Rights(A)Weighted AverageExercise Priceof OutstandingOptions, Warrants,and Rights(B)Number of  SecuritiesRemainingAvailable for FutureIssuance Under EquityCompensation Plans(Excluding SecuritiesReflected in Column (A))(C)Equity compensation plans approved by shareholders:None— — — Equity compensation plans not approved by shareholders:Deferred director compensation plan (1)101,493 (3)— (5)— (6)Restricted Stock Plan (2)14,733 (4)— (5)— (6)Total116,226 

(1) Pursuant to the terms of the Directors Plan, our directors are required to invest at least 25% of their board fees in our common stock.  These stock investments can be made either through deferred fees or through the purchase of shares through the Dividend Reinvestment Plan.  Deferred fees, under the Directors Plan, are converted on a quarterly basis into stock units of our common stock based on the fair value of a share of our common stock as of the relevant valuation date.  Stock units credited to a participant’s account are eligible for stock and cash dividends as declared. Dividend Reinvestment Plan shares are purchased pursuant to the Dividend Reinvestment Plan.

Distribution of deferred fees from the Directors Plan occurs when the participant retires from the Board of Directors or upon the occurrence of certain other events.  The participant is eligible to receive a distribution in the form of shares of our common stock of all of the stock units that are then in his or her account, and any unconverted cash will be converted to and rounded up to whole shares of stock and distributed, as well.  The Directors Plan does not allow for cash settlement, and therefore, such 

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Table of Contents

share-based payment awards qualify for classification as equity.  We may use