Company: DK
Filing Date: 2025-03-20
Form Type: DEF 14A
Source: 0001140361-25-009658
Chunk: 89

Company: Delek US Holdings, Inc.
Filing Date: 2025-03-20
Form: DEF 14A
Chunk 89
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, the Board adopted and our stockholders approved the 2016 Plan. The 2016 Plan initially authorized the issuance of up to 4,400,000 shares of Common Stock, and a history of prior amendments to the 2016 Plan is provided below under “ Adjustments, Amendment and Termination.” At the Annual Meeting, we are seeking stockholder approval in order to further amend the 2016 Plan to increase the number of shares of our Common Stock available for issuance thereunder by 1,900,000 shares. Capitalized terms used in this Proposal 3 but not defined herein shall have the meaning ascribed to such terms in the 2016 Plan. Purpose of the Plan and Reasons for the Proposed Amendment We are seeking stockholder approval of an amendment to increase the number of shares of Common Stock issuable pursuant to the 2016 Plan by 1,900,000 shares. As of March 10, 2025, there were 61,866,084 shares of Common Stock outstanding and approximately 987,110 shares remaining available for issuance under the 2016 Plan, 916,940 total stock options and SARs outstanding (with associated weighted average exercise price of $33.25 and weighted average remaining term of 3.29 years), and 3,051,374 total full value awards outstanding. In determining to propose this increase in shares, the Board has taken into consideration that the proposed increase would represent only a small percentage of the total shares of Common Stock outstanding and the desirability and importance of being able to continue to grant awards that are comparable to those of our peer companies. The 2016 Plan is designed to attract and retain nonemployee directors, employees, and consultants and reward them for making contributions to the success of the Company and its subsidiaries. These objectives are to be accomplished by making awards under the 2016 Plan and thereby providing Participants with a proprietary interest in the growth and performance of the Company. Stockholder approval of this Proposal will enable us to continue to grant equity awards to our employees, non-employee directors, and consultants at levels determined by the Board to be necessary to attract, retain and motivate the individuals who will be critical to our success in achieving our business objectives and thereby creating greater value for our stockholders. In addition to the crucial role we believe such grants play in attracting and retaining talented individuals, we believe that the equity compensation granted under the 2016 Plan also serves the important function of aligning the interests of Participants with our other stockholders and focusing