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
Our common stock is quoted on OTCQB, the OTC market tier for companies
that report to the SEC, under the symbol PEYE.
Holders
As of September 23, 2022, we had approximately
1,142 holders of record of our common stock. Holders of record include nominees who may hold shares on behalf of multiple owners.
Dividends
We have not declared any dividends during the
last two fiscal years. At present, we intend to retain our earnings, if any, to finance research and development and the expansion of
our business.
Recent Sales of Unregistered Securities
We have not issued any unregistered securities
since October 4, 2021.
Securities Authorized for Issuance under Equity
Compensation Plans
The following table summarizes information about
our equity compensation plans as of June 30, 2022.
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))
Equity compensation plans approved by security holders
44,698
$ 0.77
–
Equity compensation plans not approved by security holders
2,669,302
$ 1.34
1,206,403
Total
2,714,000
$ 1.33
1,206,403
2006 Equity Incentive Plan
On November 28, 2006, our stockholders approved
the Precision Optics Corporation, Inc. 2006 Equity Incentive Plan, referred to as the 2006 Plan, which succeeded the Precision Optics
Corporation, Inc. Amended and Restated 1997 Equity Incentive Plan, referred to as the 1997 Plan. No further awards have been or will be
granted under the 1997 Plan. The 2006 Plan allowed for the granting of stock options to selected employees, directors and other persons
who provide services to us or our affiliates. No further awards will be granted under the 2006 Plan.
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2011 Equity Incentive Plan
The Precision Optics Corporation, Inc. 2011 Equity
Incentive Plan, referred to as the 2011 Plan, was adopted by our Board of Directors on October 13, 2011. The 2011 Plan allows for the
granting of stock options to selected employees, directors and other persons who provide services to us or our affiliates.
On April 16, 2015, the Board of Directors approved
an amendment to the 2011 Equity Incentive Plan which increased the maximum number of shares of our common stock that may be awarded under
the Plan from 325,000 to 1,825,000, an increase of 1,500,000 shares. In connection therewith, on April 20, 2015, we filed a registration
statement on Form S-8 to register the 1,500,000 shares of common stock.
On May 1, 2019, the Board of Directors approved
an amendment to the 2011 Equity Incentive Plan to update the Plan for the latest changes to the tax laws and increase the maximum number
of shares of our common stock that may be awarded under the Plan from 1,825,000 to 2,825,000, an increase of 1,000,000 shares. In connection
therewith, on September 6, 2019, we filed a registration statement on Form S-8 to register the 1,000,000 shares of common stock.
2021 Equity Incentive Plan
The Precision Optics Corporation, Inc. 2021 Equity
Incentive Plan, referred to as the 2021 Plan, was adopted by our Board of Directors on May 10, 2021. The 2021 Plan allows for the granting
of stock options to selected employees, directors and other persons who provide services to us or our affiliates for up to a total of
1,000,000 shares of the Company’s common stock. In connection therewith, we filed a registration statement on Form S-8 to register
the 1,000,000 shares of common stock.
2022 Equity Incentive Plan
The Precision Optics Corporation, Inc. 2022 Equity
Incentive Plan, referred to as the 2022 Plan, was adopted by our Board on February 7, 2022 and approved by our Shareholders on April 8,
2022. The 2022 Plan allows for the granting of stock options to selected employees, directors and other persons who provide services to
us or our affiliates for up to a total of 1,000,000 shares of the Company’s common stock. We plan to file a registration statement
on Form S-8 to register the shares authorized under the 2022 Plan.
ITEM 6. SELECTED
FINANCIAL DATA. [RESERVED]
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Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.