Company: DMRC
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001437749-25-009135
Chunk: 50

Company: Digimarc CORP
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 50
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 Trading Policies

We have adopted insider trading policies and procedures governing the purchase, sale, and other dispositions of our securities that apply to our directors, officers, executives, employees, consultants and their respective affiliates. We believe that our insider trading policies and procedures are reasonably designed to promote compliance with insider trading laws, rules, and regulations, as well as applicable listing standards.

Anti-Hedging and Anti-Pledging Provisions

We expressly prohibit hedging and pledging of Company stock by all officers, directors, and employees. Moreover, we prohibit short-term and speculative transactions (expressly including hedging or pledging of Company stock) for all officers, directors, and employees under Digimarc’s insider trading policy. The Company has determined that there is a substantial likelihood for the appearance of improper conduct by Company personnel if they engage in short-term or speculative securities transactions. Therefore, we prohibit Company officers, directors, and employees from engaging in any of the following activities involving the Company’s shares:

| ● | Purchasing the Company’s securities on margin |

| ● | Short sales |

| ● | Buying or selling puts or calls |

| ● | Trading in options (other than those granted by the Company) |

| ● | Pledging Company securities as collateral for a loan |

| ● | Any hedging or monetization transaction, such as zero-cost collars and forward sale contracts |

Claw-back Policies

The Company has implemented an Incentive Compensation Recovery policy for executive officers in compliance with Section 10D of the Securities Exchange Act of 1934, Rule 10D-1 promulgated under the Exchange Act and Nasdaq Listing Rule 5608, which requires the Company to recoup incentive compensation from executive officers in the event of a financial restatement. The Company’s Claw-back Policy also applies to all officers and employees in the Corporate Governance Guidelines. Under the revised guidelines, if any officer or employee of the Company engages in any of the following:

| ● | Fraud or intentional misconduct that causes the Company to restate its financial statements, |

| ● | Sexual harassment, or |

| ● | Detrimental conduct by such officer or employee that causes material financial or reputational harm, |

then the Company will have the discretion, at the direction of the Compensation Committee after it has considered the costs and benefits of doing so, and to the extent permitted by applicable law, to take any or all of the following actions, as determined by the Compensation Committee in its discretion, regarding any incentive compensation (including any equity