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
Market
Information
IT
Tech Packaging’s common stock is traded on the NYSE American under the symbol “ITP”.
Holders
As
of March 15, 2022, we had approximately 9,000 shareholders of record of our common stock.
Dividends
On
November 21, 2013, the Company declared another quarterly dividend of $0.005 per share to shareholders of record as of November 29, 2013.
The
dividend was paid on December 10, 2013. Total dividends declared and paid for the year ended December 31, 2013 were $323,032.
We
do not expect to pay dividends in the near future. Future declaration of dividends will depend on, among other things, the Company’s
results of operations, capital requirements, financial condition and on such other factors as the Company’s Board of Directors
may in its discretion consider relevant and in the best long term interest of the shareholders.
Equity
Compensation Plan Information
On
August 29, 2015, the Company’s Annual General Meeting approved the 2015 Omnibus Equity Incentive Plan (the “2015 ISP”).
Under the 2015 ISP, the Company may grant an aggregate of 1,500,000 shares of the Company’s common stock to the directors, officers,
employees and/or consultants of the Company and its subsidiaries. The 2015 ISP provides for the granting of non-qualified stock options,
incentive stock options, restricted stock awards, restricted stock unit awards, stock appreciation rights, performance stock awards,
performance unit awards, unrestricted stock awards, distribution equivalent rights or any combination of the foregoing. The 2015 ISP
is administered by the Compensation Committee of the Board of Directors. Subject to the provisions of the 2015 ISP, the Compensation
Committee has the sole authority, in its discretion, to make all determinations under the plan, including but not limited to (i) determining
which employees, directors or consultants shall receive an award, (ii) the time or times when an award shall be made, (iii) what type
of award shall be granted, (iv) the term of an award, (v) the date or dates on which an award vests, (vi) the form of any payment to
be made pursuant to an award, (vii) the terms and conditions of an award, (viii) the restrictions under a restricted stock award, (ix)
the number of shares which may be issued under an award, (x) performance goals applicable to any award and certification of the achievement
of such goals, and (xi) the waiver of any restrictions or performance goals, subject in all cases to compliance with applicable laws.
On January 12, 2016, the Company granted an aggregate of 1,133,916 shares of common stock under its compensatory incentive plans to nine
officers, directors and employees of and a consultant when the stock was at $1.25 per share, as compensation for their services in the
past years, of which 168,416 shares of common stock were granted under the 2012 Incentive Stock Plan and 965,500 shares were granted
under the 2015 Omnibus Equity Incentive. On September 13, 2018, the compensation committee granted an aggregate of 534,500 shares of
common stock to fifteen officers, directors and employees of the Company, which were granted under the 2015 Omnibus Equity Incentive
Plan. Total fair value of the shares of common stock granted was calculated at $470,360 as of the date of issuance at $0.88 per share.
On
August 14, 2019, the Company’s Annual General Meeting approved the 2019 Incentive Stock Plan (the “2019 ISP”). Under
the 2019 ISP, the Company may grant an aggregate of 2,000,000 shares of the Company’s common stock to the Company’s directors,
officers, employees or consultants. Specifically, the Board and/or the Compensation Committee have authority to (a) grant, in its discretion,
Incentive Stock Options or Non-statutory Options, Stock Awards or Restricted Stock Purchase Offers; (b) determine in good faith the fair
market value of the stock covered by any grant; (c) determine which eligible persons shall receive grants and the number of shares, restrictions,
terms and conditions to be included in such grants; and (d) make all other determinations necessary or advisable for the 2019 ISP’s
administration.
All
shares of common stock under the 2015 and 2019 ISPs, including shares originally authorized by equity holders and shares remaining for
future issuance as of December 31, 2021, have been issued.
2021
Incentive Stock Plan
On
November 12, 2021, the Company’s Annual General Meeting adopted and approved the 2021 Omnibus Equity Incentive Plan of IT Tech
Packaging, Inc.(the”2021 Plan”).Under the 2021 ISP, the Company has reserved a total of 1,500,000 shares of common stock
for issuance as or under awards to be made to the directors, officers, employees and/or consultants of the Company and its subsidiaries.
Recent
Sales of Unregistered Securities
None.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
None.
Item
6. [Reserved]
38
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