Item 5. Market for Registrant’s Common Equity
ITEM 5 – MARKET FOR REGISTRANT’S
COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Our Common Stock is currently traded on the Nasdaq
Capital Market under the symbol “FTFT.” Prior to December 31, 2018, our stock traded on the Nasdaq Global Market, and before
that, on the NYSE Amex.
As of April 12, 2024, there were 19,985,410 shares of our Common Stock
issued and outstanding, and the Company had approximately 32 record holders of Common Stock. The number of holders of record does not
include the number of persons whose stock is in nominee or “street name” accounts through brokers.
Dividend Policy
We have never declared or paid any cash dividends
on our Common Stock. The payment of dividends is at the discretion of the Board and is contingent on our revenues and earnings, capital
requirements, financial condition and the ability of our operating subsidiaries to obtain governmental approval to send funds out of
the PRC. We currently intend to retain all earnings, if any, for use in business operations. Accordingly, we do not anticipate declaring
any dividends in the near future.
The PRC’s national currency, the RMB or
yuan, is not a freely-convertible currency. Please refer to the Risk Factors “ Governmental control of currency conversion may
affect the value of shareholder investment ,” and “ PRC regulations relating to offshore investment activities by PRC
residents may limit our PRC subsidiary’s ability to increase its registered capital or distribute profits to us or otherwise expose
us or our PRC resident beneficial owners to liability and penalties under PRC law ”.
Recent Sales of Unregistered Securities and Use of Proceeds
The Company did not make any sales of unregistered
securities during the fiscal year ended December 31, 2023 that were not previously disclosed in a quarterly report on Form 10-Q or a current
report on Form 8-K.
Securities Authorized for Issuance Under Equity Compensation Plans
The following table sets forth information as
of December 31, 2023, with respect to our equity compensation plans previously approved by stockholders and equity compensation plans
not previously approved by stockholders.
Equity Compensation Plan Information
Plan Category
Number of
securities
to be issued
upon
exercise of
outstanding
options,
warrants
and rights
Weighted
average
exercise
price of
outstanding
options,
warrants
and rights
Number of
securities
remaining
available for
future
issuance
under equity
compensation
plans
(excluding
securities
reflected in
column (a))
(a)
(b)
(c)
Equity compensation plans approved by stockholders (1)
-
$ -
2,110,000
Equity compensation plans not approved by stockholders
-
$ -
-
Total
-
$ -
2,110,000
(1)
Consists of Company’s 2023 Omnibus Equity
Plan, which was approved by the Company’s shareholders at its annual meeting of stockholders on December 5, 2023. On December 23,
2023 (the “Grant Date”), the Compensation Committee of the Board of Directors (the “Board”) of the Company granted
stock awards of 2,890,000 shares of common stock of the Company, pursuant to the Company’s 2023 Omnibus Equity Plan, to sixteen
officers and employees of the Company and its subsidiaries (the “Grantees”), including: 200,000 shares to Shanchun Huang,
Chief Executive Officer and President of the Company, 40,000 shares to Peng Lei, Chief Operating Officer of the Company, and 30,000 shares
to Hoo Lee, Corporate Secretary of the Company (collectively, the “Grants”). The Grants vested immediately on the Grant
Date and each of the Grantees also entered into an Unrestricted Stock Award Agreement with the Company on December 23, 2023. As
of December 31, 2023, there were 2,110,000 shares authorized for issuance under 2023 Omnibus Equity Plan of the Company.
The Board of Directors of the Company
approved and adopted the Future FinTech Group Inc. 2020 Omnibus Equity Plan (the “2020 Equity Plan”) on October 27,
2020, which was approved by the shareholders at the shareholders annual meeting on December 18, 2020. The 2020 Equity Plan has a
total of 5,000,000 pre reverse split shares of Common Stock. The Company grant the 1,953,000 shares under 2020 Equity Plan to
sixteen officers and employees of the Company and its subsidiaries on July 12, 2021. On July 12, 2022, the Company granted remaining
3,047,000 shares under the 2020 Equity Plan, to six officers and employees of the Company and its subsidiaries.
ITEM 6 – [RESERVED]
Not Applicable.
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