2017 AND 2021 STOCK INCENTIVE PLANS |
3 Months Ended |
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Jan. 31, 2025 | |
| Equity [Abstract] | |
| 2017 AND 2021 STOCK INCENTIVE PLANS |
NOTE 14 – 2017 AND 2021 STOCK INCENTIVE PLANS
2017 and 2021 Stock Incentive Plan (together “SIPs”)
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 and provides for a maximum of to be issued under this Plan. On July 12, 2021 a second plan was adopted by the Board of Directors (2021 Plan). The 2021 Plan is identical to the 2017 Plan in all material respects except that the maximum number of shares allocated for issuance is .
The shares allocated for issuance under the SIPs 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 SIPs to the issuance of shares will, for corporate law purposes, be deemed to mean the transfer of shares from treasury.
Pursuant to the terms of the 2017 Plan, during the three months ended January 31, 2025, the Company granted restricted stock awards. There were no forfeitures or treasury stock created. During the three months ended January 31, 2025 there were options exercised on a cashless basis, pursuant to which shares of common stock were issued and were returned to the plan
As of January 31, 2025, there were shares available for future issuance under the 2017 and 2021 Plans.
The total stock compensation expense during the three months ended January 31, 2025 and 2024 was $ (of which $ constituted unregistered stock which was issued outside of the SIPs) and $ respectively (Item 2 discusses this more fully).
CODA OCTOPUS GROUP, INC. Notes to the Consolidated Financial Statements January 31, 2025 and October 31, 2024
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