Company: HGBL
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000950170-25-056713
Chunk: 31

Company: Heritage Global Inc.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 31
---
                  | The Company granted 45,000 options to purchase common stock in connection with an addendum to the Employment Agreement of David Ludwig (as described previously in “Grants of Plan-Based Awards”). The options vest 25% annually beginning on June 1, 2021.   |     |               |             |     |    |     |               |     |    |       |                 |                 |                   |              |                   |     |    |   |                |     |     |                  |     |    |     |                   |
| (5)                  | The Company granted 40,000 options to purchase common stock in connection with an addendum to the Employment Agreement of David Ludwig (as described previously in "Grants of Plan-Based Awards").The options vest 25% annually beginning on June 1, 2022.    |     |               |             |     |    |     |               |     |    |       |                 |                 |                   |              |                   |     |    |   |                |     |     |                  |     |    |     |                   |
| (6)                  | The Company granted 200,000 options to purchase common stock. The options vest 25% annually beginning on the first anniversary of the August 23, 2021 grant date.                                                                                             |     |               |             |     |    |     |               |     |    |       |                 |                 |                   |              |                   |     |    |   |                |     |     |                  |     |    |     |                   |

There were no adjustments or changes in the terms of any of our option awards in 2024.

<div align='center'>24</div>

Pay Versus Performance

As required by Section 953(a) of the Dodd-Frank Act, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of the Company. For further information concerning our variable pay-for-performance philosophy and how we align executive compensation with our performance, refer to “Executive Compensation – Compensation Discussion and Analysis.”

Pay Versus Performance Tables

The following table presents, for each of the three most recent years:

• Total compensation, as calculated in the Summary Compensation Table, for our CEO (“Principal Executive Officer” or “PEO”) and an average for our other Named Executive Officers (“Non-PEO NEOs”);

• Compensation actually paid to the PEO and Non-PEO NEOs, an SEC prescribed calculation which adjusts total