Company: TPET
Filing Date: 2025-01-17
Form Type: 10-K
Source: 0001493152-25-002760
Chunk: 1352

Company: Trio Petroleum Corp.
Filing Date: 2025-01-17
Form: 10-K
Item: Item 6
Chunk 1352
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 2022 Plan without stockholder approval,
except that stockholder approval must be obtained for any amendment that, in the reasonable opinion of the board or the committee, constitute
a material change requiring stockholder approval under applicable laws, policies or regulations or the applicable listing or other requirements
of a stock exchange on which shares of common stock are then listed. The 2022 Plan will terminate upon the earliest of (1)
termination of the 2022 Plan by the board of directors, or (2) the tenth anniversary of the board adoption of the 2022 Plan. Awards outstanding upon expiration of the 2022 Plan shall remain in effect until they have been exercised or terminated
or have expired.

55

Director
Compensation

The
following table provides information for the compensation of our non-employee directors for the fiscal year ended October 31, 2024:

    Fees earned
    or  
    Stock  

    paid in
    cash  
    Awards  
    Total 
  
    Name 
    ($)  
    ($)  
    ($) 
  
    John Randall
    (1) 
     87,500  
     45,961  
     133,461 
  
    Thomas J. Pernice (2) 
     100,000  
     45,961  
     145,961 
  
    William J. Hunter (3) 
     87,500  
     45,961  
     133,461 
  
    James H. Blake (4) 
     -  
     2,150  
     2,150 

(1)Mr.
                                            Randall was awarded 5,000 and 12,500 restricted shares in September 2023 and October 2024,
                                            respectively, in connection with his Board service; such shares vest in full upon the six
                                            month anniversary and the three month anniversary, respectively, of the award dates.

(2)Mr.
                                            Pernice was awarded 5,000 and 12,500 restricted shares in September 2023 and October 2024,
                                            respectively, in connection with his Board service; such shares vest in full upon the six
                                            month anniversary and the three month anniversary, respectively, of the award dates. 

(3)Mr.
                                            Hunter was awarded 5,000 and 12,500 restricted shares in September 2023 and October 2024,
                                            respectively, in connection with