Company: EQS
Filing Date: 2025-04-10
Form Type: 10-K
Source: 0001712543-25-000016
Chunk: 43

Company: EQUUS TOTAL RETURN, INC.
Filing Date: 2025-04-10
Form: 10-K
Item: Item 8
Chunk 43
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 distributable earnings (accumulated undistributed deficit) on the Balance Sheet as of December
31, 2024 and 2023 are as follows:

  ​                                                         December                   December               
                                                            31, 2024                   31, 2023               
  Accumulated undistributed net investment losses           $             (54,780      $             (51,465  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Unrealized appreciation of portfolio securities, net                      8,889                     24,489  
  Accumulated undistributed net capital gains                                 602                        464  
  Accumulated deficit                                       $             (45,289      $             (26,512  

Share-Based
Incentive Compensation - On June 13, 2016, our shareholders approved the adoption of our 2016 Equity Incentive Plan
(“ Incentive Plan”). The Incentive Plan is intended to promote the interests of the Fund by encouraging officers,
employees, and directors of the Fund and its affiliates to acquire or increase their equity interest in the Fund and to provide a
means whereby they may develop a proprietary interest in the development and financial success of the Fund, to encourage them to
remain with and devote their best efforts to the business of the Fund, thereby advancing the interests of the Fund and its
stockholders. The Incentive Plan is also intended to enhance the ability of the Fund and its affiliates to attract and retain the
services of individuals who are essential for the growth and profitability of the Fund. The Incentive Plan permits the award of
restricted stock as well as common stock purchase options. The maximum number of shares of common stock that are subject to awards
granted under the Incentive Plan is 2,434,728 shares. The term of the Incentive Plan will expire on June 13, 2026. On March 17,
2017, we granted awards of restricted stock under the Plan to certain of our directors and executive officers in the aggregate
amount of 844,500 shares. The awards are each subject to a vesting requirement over a 3-year period unless the recipient thereof is
terminated or removed from their position as a director or executive officer without “cause”, or as a result of
constructive termination, as such terms are defined in the respective award agreements entered into by each of the recipients and
the Fund. As of December 31, 2020, all shares were vested.