Company: BKYI
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001437749-25-012824
Chunk: 270

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1C
Chunk 270
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 approved an amendment to the 2015 to increase the shares of common stock authorized for issuance under the 2015 Plan from 10,417 shares to 43,834 shares together with other technical changes. The term of stock options granted under the 2015 Plan,  may not exceed ten years, exercise prices  may not be below 100-110% of fair market value, and vesting occurs over time periods set forth in written agreements with the recipients. In the event of a change in control, certain stock awards issued under the 2015 Plan  may be subject to additional acceleration of vesting as  may be provided in the participants’ written agreement. The 2015 Plan expires in  December 2025.
    
   Non-Plan Stock Options
    
   Periodically, the Company has granted options outside of the 2015 Plan to various employees and consultants. In the event of change in control, as defined, certain of the non-plan options outstanding vest immediately.
    
   Stock Option Activity
    
   Information summarizing option activity is as follows:

                        Weighted      
                Weighted    average      
   Number of Options    average    remaining    Aggregate  
   2015     Non    Total    exercise    life    intrinsic  
   Plan     Plan        price    (in years)    value  
                          
 Outstanding, as of December 31, 2022   6,241    4,724   11,313  $299.61   2.07  $0 
 Granted   —    —   —   —         
 Exercised   —    —   —   —         
 Forfeited   (151)   —   (151   94.44         
 Expired   (1,548)      (1,895)  256.30         
 Outstanding, as of December 31, 2023   4.542    4,724   9,266  $311.16   0.96  $0 
 Granted   —    —   —   —         
 Exercised   —    —   —   —         
 Forfeited   (348)   —   (348