Company: ZNOG
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001437749-25-009623
Chunk: 795

Company: ZION OIL & GAS INC
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 795
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       December 31,    December 31,  
   2024    2023  
   US$    US$  
   thousands    thousands  
 Drilling provisions   9   - 
 Employees related   285   328 
 Audit and Legal Costs   129   157 
 Other   33   208 
   456   693 

   Note 6 - Stockholders’ Equity
    
   The Company’s shareholders approved the amendment of the Company’s Amended and Restated Certificate of Incorporation to increase the number of shares of common stock, par value $0.01, that the Company is authorized to issue from 800,000,000 shares to 1,200,000,000 shares, effective  June 7, 2023.
    
   A. 2021 Omnibus Incentive Stock Option Plan 
    
   Effective  June 9, 2021, the Company’s shareholders authorized the adoption of the Zion Oil & Gas, Inc. 2021 Omnibus Incentive Stock Option Plan (“Omnibus Plan”) for employees, directors and consultants, initially reserving for issuance thereunder 38,000,000 shares of common stock.
    
   The Omnibus Plan provides for the grant of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, bonus stock, awards in lieu of cash obligations, other stock-based awards and performance units. The plan also permits cash payments under certain conditions.
    
   The compensation committee of the Board of Directors (comprised of independent directors) is responsible for determining the type of award, when and to whom awards are granted, the number of shares and the terms of the awards and exercise prices. The options are exercisable for a period not to exceed ten years from the date of grant.

        F-
       18

        Zion Oil & Gas, Inc.

        Notes to Consolidated Financial Statements

   Note 6 - Stockholders’ Equity (cont’d)
    
   During the year ended  December 31, 2024, the Company granted the following options from the 2021 Equity Omnibus Plan for employees, directors and consultants, to purchase shares of common stock as non-cash compensation:
    
     i.  Options to purchase 175,000 shares of Common Stock to five senior officers and one staff member at an exercise price of $0.07 per share. The