Company: DMRC
Filing Date: 2025-03-25
Form Type: DEF 14A
Source: 0001437749-25-009135
Chunk: 86

Company: Digimarc CORP
Filing Date: 2025-03-25
Form: DEF 14A
Chunk 86
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 purposes of this paragraph, the rules of Section 424(d) of the Code shall apply, and stock which the Employee may purchase under outstanding options shall be treated as stock owned by the Employee). |

| Article 4. | ENROLLMENT |

Any Eligible Employee may enroll in the Plan for any Offering Period by completing an enrollment election form or by such other means as the Committee shall prescribe and submitting such enrollment election to the Company in accordance with procedures established by the Committee on or before the Cut-Off Date with respect to such Offering Period. Unless otherwise determined by the Committee, the enrollment election and the designated rate of payroll deduction shall continue for future Offering Periods unless the Participant changes or cancels in accordance with procedures established by the Committee the enrollment election or designated rate of payroll deduction prior to the Cut-Off Date with respect to a future Offering Period or elects to withdraw from the Plan in accordance with Section 8.1.

| Article 5. | GRANT OF OPTIONS ON ENROLLMENT |

| 5.1. | Option Grant.  Enrollment by an Eligible Employee in the Plan as of an Enrollment Date will constitute the grant by the Company to such Participant of an option on such Enrollment Date to purchase Shares from the Company pursuant to the Plan. |

| 5.2. | Option Expiration.  An option granted to a Participant pursuant to the Plan shall expire, if not terminated for any reason first, on the earliest to occur of (a) the end of the Offering Period in which such option was granted; (b) the completion of the purchase of Shares under the option under Article 7; or (c) the date on which participation of such Participant in the Plan terminates for any reason. |

| 5.3. | Purchase of Shares.  An option granted to a Participant under the Plan shall give the Participant a right to purchase on a Purchase Date the largest number of whole Shares, as determined by the Committee, which the funds accumulated in the Participant’s Account as of such Purchase Date will purchase at the applicable Purchase Price; provided, however, that unless the Committee determines otherwise for a future Offering Period or Purchase Period, no Participant may purchase during the Purchase Period more than five thousand (5,000) Shares, subject to adjustment as provided in Article 9, and provided further, that the Committee may, in its discretion, further limit the number of Shares purchased by each Participant in any Purchase Period. 
 Notwithstanding anything to the contrary herein, to the extent required by Section