Company: COFS
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0000950170-25-036839
Chunk: 14

Company: CHOICEONE FINANCIAL SERVICES INC
Filing Date: 2025-03-11
Form: 10-K
Item: Item 12
Chunk 14
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The information under the caption "Ownership of ChoiceOne Common Stock" in the Company's Definitive Proxy Statement for the Annual Meeting of Shareholders to be held May 21, 2025, is incorporated herein by reference.

The following table presents information regarding the equity compensation plans both approved and not approved by shareholders at December 31, 2024:

    Number of securities

    remaining available for

    Number of securities to

    Weighted-average

    future issuance under

    be issued upon exercise

    exercise price of

    equity compensation plans

    of outstanding options,

    outstanding options,

    (excluding securities

    warrants and rights

    warrants and rights

    reflected in column (a))

    (a)

    (b)

    (c)

    Equity compensation plans approved by security holders

    80,857

    $
    1.94

    314,713

    Equity compensation plans not approved by security holders

    —

    —

    137,792

    Total

    80,857

    $
    1.94

    452,505

Equity compensation plans approved by security holders include the Stock Incentive Plan of 2012, the Equity Incentive Plan of 2022, and the 2022 Employee Stock Purchase Plan.  As of December 31, 2024, 141,996 shares remained available for future issuance under the Equity Incentive Plan of 2022 and 172,717 shares remained available for future issuance under the 2022 Employee Stock Purchase Plan, in each case other than upon the exercise of outstanding stock options. The Stock Incentive Plan of 2012 has expired and no further issuance of shares is permitted under the plan other than upon the exercise or vesting of outstanding awards.

The Directors’ Stock Purchase Plan and the Directors’ Equity Compensation Plan are the only equity compensation plans not approved by security holders. The Directors’ Stock Purchase Plan is designed to provide directors of the Company the option of receiving their fees in the Company’s common stock. Directors who elect to participate in the plan may elect to contribute to the plan twenty-five, fifty, seventy-five or one hundred percent of their board of director fees and one hundred percent of their director committee fees earned as directors of the Company. Contributions to the plan are made by the Company on behalf of each electing participant. Plan participants may terminate their participation in the plan at any time by written notice of withdrawal to the Company. The Directors’