Company: XXII
Filing Date: 2025-04-30
Form Type: 10-K/A
Source: 0001641172-25-006806
Chunk: 17

Company: 22nd Century Group, Inc.
Filing Date: 2025-04-30
Form: 10-K/A
Chunk 17
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 target cash bonus amounts. Equity awards will be split as 75% non-qualifying stock options (NQSO’s) and 25% restricted stock units (RSU’s), and the number of shares to award will be determined by taking the target cash bonus as the numerator divided by the 30-day average of closing stock price prior to grant as the denominator. All equity awards will vest in equal annual installments over a three-year period, subject to continued service with us.

For fiscal 2025, the table below summarized the number of NQSO’s and RSU’s granted to our executives, based on a 30-day average closing stock price of $3.54 and grant date price of $2.01.

| Name                                         |     | NQSO’s (#) |        |     | RSU’s (#) |        |
| Lawrence D. Firestone                        |     |            |        |     |           |        |
| Chief Executive Officer                      |     |            | 90,043 |     |           | 30,014 |
| Daniel A. Otto                               |     |            |        |     |           |        |
| Chief Financial Officer                      |     |            | 50,054 |     |           | 16,684 |
| Jonathan Staffeldt                           |     |            |        |     |           |        |
| General Counsel                              |     |            | 50,054 |     |           | 16,684 |
| Robert Manfredonia                           |     |            |        |     |           |        |
| Executive Vice President Sales and Marketing |     |            | 43,698 |     |           | 14,565 |
| Scott Marion                                 |     |            |        |     |           |        |
| Vice President Manufacturing Operations      |     |            | 43,698 |     |           | 14,565 |

| 11 |

Retirement and other benefits

As employees, the executives were eligible to participate in health and welfare benefits, as offered to our general workforce, designed to attract and retain a skilled workforce in a competitive marketplace. These benefits help ensure that the Company has a healthy and focused workforce through reliable and competitive health and other personal benefits. We do not maintain any pension or non-qualified deferred compensation plans, but we do sponsor a 401(k)-plan pursuant to which we make a safe harbor non-elective contribution of 3% of the employee’s annual compensation, subject to certain wage maximums,