Company: FORA
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001140361-25-016300
Chunk: 30

Company: Forian Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 30
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. Vesey and from $323,044 to $353,044 for Mr. Spaniel, each effective April 1, 2025. Non-Equity Incentive Plan Compensation We seek to motivate and reward our executives for achievements relative to corporate and individual goals and expectations for each fiscal year. Messrs. Barton, Spaniel and Vesey are eligible to receive an annual performance bonus based on the achievement of individual and Company-wide performance goals as determined by our Board, pursuant to the terms of their employment agreements and our bonus policies. The target bonus amount for Mr. Barton in 2023 was set pursuant to his employment agreements at 35%. The target bonus amounts for Messrs. Spaniel and Vesey in 2024 and 2023 were set pursuant to their employment agreements at 30% and 50%, respectively. Based on 100% achievement of performance measures for 2024, our Board approved annual cash performance bonuses in the respective amounts of $96,913 for Mr. Spaniel and $161,522 for Mr. Vesey. Mr. Wygod received no performance bonus in 2024. Based on 100% achievement of performance measures for 2023, our Board approved annual cash performance bonuses in the respective amounts of $93,636 for Mr. Spaniel and $156,060 for Mr. Vesey. Mr. Wygod received no performance bonus in 2023. Equity Compensation Although we do not have a formal policy with respect to the grant of equity incentive awards to our executive officers, we believe that equity grants provide our executives with a strong link to our long-term performance, create an ownership culture and help to align the interests of our executives and our stockholders. In addition, we believe that equity grants with a time-based vesting feature promote executive retention because this feature incentivizes our executive officers to remain in our employment during the vesting period. Accordingly, our Board periodically reviews the equity incentive compensation of our named executive officers and from time to time may grant equity incentive awards to them. During 2024, we granted options to purchase shares of our common stock and restricted stock units to Mr. Spaniel and Mr. Vesey. 20

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Outstanding Equity Awards at Fiscal Year-End The following table summarizes the number of shares of common stock underlying outstanding equity incentive plan awards for each named executive officer as of December 31, 2024.

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