Company: FLYE
Filing Date: 2025-07-15
Form Type: 10-K
Source: 0001213900-25-064293
Chunk: 916

Company: Fly-E Group, Inc.
Filing Date: 2025-07-15
Form: 10-K
Item: Item 4
Chunk 916
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 issuance under the 2024 Plan is the
sum of (A) 740,000, plus (B) an increase commencing on April 1, 2026, and continuing annually on each anniversary thereof until
the tenth anniversary of the plan effective date, equal to the lesser of (i) 8% of the total number of all classes of the Company’s
common stock outstanding on the last day of the immediately preceding fiscal year and (ii) such smaller number of shares as determined
by the Board or the Committee (the “Share Limit”).

Reversion of Shares

If any shares covered by
an award are not purchased or are forfeited or expire, or if any award otherwise terminates without delivery of any shares subject to
the award or is settled in cash in lieu of shares, then the number of shares counted against the Share Limit with respect to such award
will, to the extent of any such forfeiture, termination, expiration or settlement, again be available for issuance under the 2024 Plan.

Awards

The 2024 Plan provides for
the grant of awards of stock options, stock appreciation rights (“SARs”), restricted stock, restricted stock units, deferred
stock units, unrestricted stock, dividend equivalent rights, and other equity-based awards.

Stock Options

Stock options granted under
the 2024 Plan may be nonqualified stock options or incentive stock options within the meaning of Section 422 of the Internal Revenue
Code of 1986, as amended (the “Code”). Each option will become vested and exercisable at such times and under such conditions
as our Compensation Committee may approve consistent with the terms of the 2024 Plan. No option may be exercisable more than ten years
after the option grant date. Our Compensation Committee may include in the option agreement provisions specifying the period during which
an option may be exercised following termination of the grantee’s service.

The exercise price per share
of our common stock for each option granted under the 2024 Plan may not be less than 100%, or 110% in the case of an incentive stock
option granted to a stockholder who owns more than ten percent of our voting stock, of the fair market value of a share of our common
stock on the option grant date, except in the case of an option granted upon assumption of, or in substitution for, outstanding awards
previously granted under a compensatory plan by a business entity acquired or to be acquired by us or an affiliate of ours