Company: BKYI
Filing Date: 2025-06-27
Form Type: DEF 14A
Source: 0001437749-25-021438
Chunk: 28

Company: BIO KEY INTERNATIONAL INC
Filing Date: 2025-06-27
Form: DEF 14A
Chunk 28
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 the end of the prior fiscal year). Adjustments as provided in clause (iii) are inapplicable for all of the years presented in the table.

The valuation assumptions used to calculate fair values did not materially differ from those disclosed at the time of grant. The value of restricted stock awards is based on the fair value as of the end of the covered year or change in fair value during the covered year, in each case based on the closing sale price of our common stock, as reported by Nasdaq.

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| (5) | Average Summary Compensation Table total for non-PEO NEOs reflects the average Summary Compensation Table total for Cecilia C. Welch and James D. Sullivan for 2024 and 2023 and for Mira K. LaCous and James D. Sullivan for 2022. |

| (6) | Amounts represent the average compensation actually paid to the non-PEO NEOs for each of the years presented. The dollar amounts in this column do not reflect the actual average amount of compensation earned by or paid to the non-PEO NEOs during the applicable year. |

| (7) | Average compensation actually paid to non-PEO NEOs reflects the average compensation actually paid to Cecilia C. Welch and James D. Sullivan for 2024 and 2023 and to Mira K. LaCous and James D. Sullivan for 2022 and consists of the following average amounts deducted from and added to the average Summary Compensation Table total for the non-PEO NEOs for each of the years presented: |

|                                                                                                                |     | Average Non- 
 PEO          
 NEOs         |         |   |
|:---------------------------------------------------------------------------------------------------------------|:----|:-------------|--------:|:--|
| Average Summary Compensation Table Total for 2024                                                              |     | $            | 273,589 |   |
| Deduct: Average stock awards(a)                                                                                |     |              |  22,500 |   |
| Add: Average year-end value of equity awards granted during the year that are outstanding and unvested(b)      |     |              |  25,650 |   |
| Add: Average change in fair value of equity awards granted in prior years that are outstanding and unvested(c) |     |              |  (9,099 | ) |
| Add: Average change in fair value of equity awards granted in prior years that vested during the year(d)       |     |              | (25,105