Company: LPG
Filing Date: 2025-07-22
Form Type: DEF 14A
Source: 0001558370-25-009356
Chunk: 58

Company: DORIAN LPG LTD.
Filing Date: 2025-07-22
Form: DEF 14A
Chunk 58
---
 the plan and the interests of the Company. The maximum number of shares of common stock that may be granted under the 2014 Equity Incentive Plan shall not exceed 2,850,000 in the aggregate. In October 2021, our shareholders approved an amendment to the Equity Incentive Plan to increase the reserve of our common shares for issuance by 2,015,000. The plan is administered by our compensation committee.​The 2014 Equity Incentive Plan is administered by our Compensation Committee with a view towards aligning the interests of our executives with the best interests of the Company and its shareholders, improving overall performance and further fostering long-term relationships between the Company and such executives.  In general, executive compensation including award granted under 2014 Equity Incentive Plan, is determined at similar times each year. The Compensation Committee does not tie awards under the plan with the timing of material Company news or events. In addition, all transactions in the securities granted under the 2014 Equity Incentive Plan are subject to the Company’s insider trading policy.​During the year ended March 31, 2025, we granted to certain of our officers an aggregate of 177,500 shares of restricted stock and 25,000 restricted stock units. We also granted to certain of our employees 69,650 shares of restricted stock and 23,960 restricted stock units vesting ratably on the grant date and on the first and second anniversaries of the grant date. The shares of restricted stock and restricted stock units were valued at their grant date fair market value and are expensed on a straight-line basis over the respective vesting periods.​During the year ended March 31, 2025, we granted 29,741 shares of stock to our non-executive directors, which were valued and expensed at their grant date fair market value.​As of July 15, 2025, there were 272,996 shares of restricted stock and restricted stock units that were issued and outstanding, but not yet vested. As of that date, there were 1,234,584 shares of common stock remaining available for future grants under the 2014 Equity Incentive Plan.​All shares will become fully vested and nonforfeitable, and all performance threshold requirements will cease to apply, in connection with a Change in Control (as defined in the 2014 Equity Incentive Plan), such that no performance threshold requirements will be applicable upon a Change in Control and all