Company: BKYI
Filing Date: 2025-06-27
Form Type: DEF 14A
Source: 0001437749-25-021438
Chunk: 63

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-06-27
Form: DEF 14A
Chunk 63
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 of that jurisdiction, or in the event that compliance with the laws of that jurisdiction would cause the amended ESPP to violate the requirements of Section 423 of the Code. All eligible employees will have equal rights and privileges under the amended ESPP.

Share Reserve

The amended ESPP provides for the issuance of shares of common stock that may be obtained upon the exercise of options granted pursuant to the amended ESPP. The total number of shares of common stock reserved for issuance under the amended ESPP is 743,834, subject to adjustment as described below, 10,034 of which have been issued as of June 20, 2025. These shares may be authorized but unissued shares of common stock, or reacquired shares of common stock bought on the market or otherwise. If any option under the amended ESPP terminates for any reason without being exercised, the shares of common stock not purchased under such option will again become available for issuance under the amended ESPP.

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Contributions and Purchases

The amended ESPP will permit participants to purchase common stock through contributions (in the form of payroll deductions or otherwise to the extent permitted by the Committee) of up to 15% of their eligible compensation, which includes a participant’s regular and recurring straight time gross earnings, payments for overtime and shift premium, but excludes payments for incentive compensation, bonuses, equity compensation and other similar compensation. Subject to the eligibility requirements discussed above, a participant may purchase a maximum of $25,000 of shares of common stock during each six-month offering period. The amended ESPP will have purchase periods approximately six months in duration commencing with the first trading day after one exercise date and ending with the next exercise date. The offering periods generally start on January 1 and July 1 of each year. The Committee may, in its discretion, modify the terms of future purchase periods and offering periods.

Amounts contributed and accumulated by the participant during any offering period will be used to purchase shares of our common stock at the end of each six-month purchase period. The purchase price of the shares will be 85% of the lower of the fair market value of our common stock on the first trading day of the offering period or on the last trading day of the offering period.

Withdrawal; Termination of Employment

A participant may withdraw from the amended ESPP voluntarily at any time by filing a notice of withdrawal 10 days prior to the close of business on the last day of the offering period. A participant will be deemed