Company: BCTF
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0001552781-25-000058
Chunk: 571

Company: Bancorp 34, Inc.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 1B
Chunk 571
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orp 34’s common stock, the number of shares of common stock that pertain to each outstanding award, and
the exercise price of each option and the maximum number of shares subject to all awards under the 2024 Equity Plan will be adjusted
to reflect the event. In the event of: (i) a change in control; or (ii) to the extent determined by the administrator in the applicable
award agreement a participant’s death or disability, a participant’s unvested awards under the 2024 Equity Plan will automatically
vest, become exercisable or be deemed fully earned, as applicable.

Amendment
& Termination. Bancorp 34’s board of directors may amend, suspend, terminate or discontinue
the 2024 Equity Plan at any time, provided that no amendment, alteration, suspension or discontinuation will be made which would impair
the rights of any participant under any grant previously made under the Plan without that participant’s consent. In addition, to
the extent necessary and desirable to comply with Code Section 422 (or other applicable law or regulation), Bancorp 34 will obtain stockholder
approval of any amendment to the 2024 Equity Plan in such a manner and to such a degree as required. The Administrator may generally
amend, alter, suspend, discontinue or terminate any award and any award agreement; provided that, without the consent of an affected
participant, no such action by the administrator may impair the rights of any participant with respect to the award.

Outstanding
Equity Awards at 2024 Fiscal Year-End 

The following table
provides a summary of equity awards outstanding as of December 31, 2024, for the named executive officers.

    Stock Awards

    Name 
    Grant Date 
    Number of shares or 
units of stock that
 have not vested (#)(1)  
    Market value of shares 
of units of stock that 
have not vested ($000s)  
    Equity incentive plan awards:
 Number of unearned shares, units or 
other rights that have not vested (#) 
  
    Ciaran McMullan 
    12/23/2024 
     82,500  
     974  
     65,000 
  
    Chris Webster 
    12/23/2024 
     30,000  
     354  
     24,000 
  
    Paul Tees 
    12/23/2024 
     15,