Other Information
−Removed: On May 1, 2024 , the Compensation Committee approved the Company entering into a grant of 125,000 and 75,000 performance shares to Michael Benstock and Michael Koempel , respectively, under the 2022 Equity Incentive and Awards Plan.
−Removed: The performance shares agreements were executed on May 6, 2024.
−Removed: Each performance share represents a contingent right to receive one share of common stock.
−Removed: The performance shares will vest if, in each case and during a four -year performance period beginning on January 1, 2024, subject to additional requirements, the average closing price of the Company’s common stock over a rolling thirty ( 30 ) day period equals or exceeds the closing share price on May 10, 2024 by 115%, 130%, and 150% and the executive is still employed by the Company twelve ( 12 ) months after the applicable stock price condition has been satisfied.
−Removed: Koempel’s agreement provides protection for termination without Cause and for resignation for Good Reason during the period after the per share price has been satisfied.
−Removed: The fair value of the shares, yet to be determined, will be amortized across the performance period based on a Monte Carlo valuation model.
−Removed: Performance Shares Agreement, dated May 6, 2024, granted to Michael Benstock
−Removed: Performance Shares Agreement, dated May 6, 2024, granted to Michael Koempel
+Added: Not applicable.
+Added: Performance Shares Agreement Grant to Michael Benstock, dated May 6, 2024, filed as Exhibit 10.1 to the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and incorporated herein by reference.
+Added: Performance Shares Agreement Grant to Michael Koempel, dated May 6, 2024, filed as Exhibit 10.2 to the Registrant's Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and incorporated herein by reference.
Certification by the Chief Executive Officer (Principal Executive Officer) pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
13 unchanged sentences
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
+Added: August 6, 2024
SUPERIOR GROUP OF COMPANIES, INC.
3 unchanged sentences
(Principal Executive Officer)
+Added: August 6, 2024
/s/ Michael Koempel
3 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.