Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 61

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 9B
Chunk 61
---
and qualified.

Director
Independence

We
are a “controlled company” under the Nasdaq Marketplace Rules, but we have not exempted ourselves from the requirement to
have independent directors and independent compensation and nomination committees. Currently we have three members of our Board of Directors
who are independent as defined under Nasdaq Marketplace Rules. Troy Parkos and Carlos M. Gonzalez are all members of our audit committee,
our corporate governance and nominating committee and compensation committee in accordance with the Nasdaq listing rules that require
that, subject to specified exceptions, each member of a listed company’s audit, compensation and corporate governance and nominating
committees be independent.

There
are no family relationships among any of our directors or executive officers.

54

Director
Compensation

2024
Director Compensation

Cash
Compensation

All
non-employee directors are entitled to receive the following cash compensation for their services:

    ●
    $30,000
    per year for service as a board member;

All
cash payments to non-employee directors who served in the relevant capacity at any point during the immediately preceding prior fiscal
quarter will be paid quarterly in arrears. A non-employee director who served in the relevant capacity during only a portion of the prior
fiscal quarter will receive a pro-rated payment of the quarterly payment of the applicable cash retainer.

Equity
Compensation

Each
non-employee director who served as a director during 2021 received an initial grant of non-qualified stock options under our 2021 Plan
to purchase 5,500 shares of our common stock, which options vest pro rata on a monthly basis over a period of twelve months from
the grant date, subject to the grantee’s continued service through that date. Each non-employee director who served as a director
during 2022 received a grant of non-qualified stock options under our 2021 Plan to purchase 5,500 shares of our common stock, which options
vest pro rata on a monthly basis over a period of twelve months from the grant date, subject to the grantee’s continued
service through that date.

Director
Compensation Table

The
following table sets forth information regarding the compensation earned for service on our board of directors by our non-employee directors
during the year ended December 31, 2024.

    (a) 
    (b)  
    (c)  
    (d)  
    (e)  
    (