2017 STOCK INCENTIVE PLAN
|3 Months Ended|
Jan. 31, 2023
|Stock Incentive Plan|
|2017 STOCK INCENTIVE PLAN||
NOTE 13 – 2017 STOCK INCENTIVE PLAN
2017 Stock Incentive Plan
On December 6, 2017, the Board of Directors adopted the 2017 Stock Incentive Plan (the “2017 Plan”). The purpose of the Plan is to advance the interests of the Company and its stockholders by enabling the Company and its subsidiaries to attract and retain qualified individuals through opportunities for equity participation in the Company, and to reward those individuals who contribute to the Company’s achievement of its economic objectives. The Plan was adopted subject to stockholders’ approval and was approved by Stockholders at the Company’s Annual General Meeting held on July 24, 2018.
The maximum number of shares of Common Stock available for issuance under the 2017 Plan is . The shares available for issuance under the 2017 Plan may, at the election of the Compensation Committee, be either treasury shares or shares authorized but unissued, and, if treasury shares are used, all references in the 2017 Plan to the issuance of shares will, for corporate law purposes, be deemed to mean the transfer of shares from treasury.
During the three months ended January 31, 2023, the Company granted to various eligible individuals restricted stock awards of there were shares available for future issuance under the 2017 Plan. The total stock compensation expense during the three months ended January 31, 2023 was $ .shares of common stock pursuant to the terms of the 2017 Plan. During the said period, restricted stock awards vested, and options or restricted stock awards were forfeited. As of January 31, 2023,
2021 Stock Incentive Plan
On July 12, 2021, the Board of Directors adopted the 2021 Stock Incentive Plan (the “2021 Plan”). The 2021 Plan was approved by the Company’s stockholders at its Annual General Meeting held on September 14, 2021. The 2021 Plan is identical to the 2017 Plan in all material respects, except that the number of shares available for issuance thereunder is .
The total number of shares available for issuance under the 2017 Plan and 2021 Plan is .