Company: CPSH
Filing Date: 2025-03-17
Form Type: DEF 14A
Source: 0001437749-25-008032
Chunk: 32

Company: CPS TECHNOLOGIES CORP/DE/
Filing Date: 2025-03-17
Form: DEF 14A
Chunk 32
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 incentive stock options, which are exercisable at $2.30 per share, vest in equal annual installments over a five-year period commencing on the first anniversary of the date of grant and have a term of 10 years.

On February 28, 2024, the Board of Directors approved the grant to each of the members of the Board options under the 2020 Plan to purchase 15,000 shares of Common Stock, for an aggregate 75,000 shares. These non-qualified stock options, which are exercisable at $2.34 per share, vested immediately on grant and have a term of 10 years.

On February 28, 2024, the Board approved the grant of options under the 2020 Plan to purchase 105,000 shares, including 15,000 shares each to Messers. Mackey, Griffith and Barton. These incentive stock options, which are exercisable at $2.34 per share, vest in equal annual installments over a five-year period commencing on the first anniversary of the date of grant and have a term of 10 years.

On December 10, 2024, the Board of Directors approved the grant to new Board member I. James Cavoli, options under the 2020 Plan to purchase 15,000 shares of Common Stock. These non-qualified stock options, which are exercisable at $1.58 per share, vested immediately on grant and have a term of 10 years.

Such grants were the only grants of stock options made to the named executive officers and directors of the Company during the 2024 fiscal year.

Retirement, Severance and Similar Compensation

The Company does not offer or have in place any formal retirement, severance or similar compensation programs other than its retirement savings plan available to all eligible employees and other agreements with Mr. Mackey, Mr. Barton and Mr. Griffith, as described above, as well as one senior manager of the Company.

Compensation of Directors

The following table sets forth all compensation of the Company’s non-employee directors for the fiscal year ended December 28,2024.

| Name                   |     | Fees Earned or 
 Paid in Cash   
 ($)            |        |       |     | Option Awards 
 ($)           |        |       |     | All Other    
 Compensation 
 ($)          |       |    |     | Total 
 ($)   |        |
|:-----------------------|:----|:---------------|-------:|------:|:----|:--------------|