SUNation Energy, Inc. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY AND RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASE OF EQUITY SECURITIES Market Information The Company’s common stock trades on the Nasdaq Global Market under the trading symbol JCS. Holders At March 1, 2022, there were approximately 465 registered holders of record of Communications Systems, Inc. common stock. Securities Authorized for Issuance Under Equity Compensation Plans The following table presents information about the Company’s equity compensation plans, under which equity securities of the Company are authorized for issuance, as of December 31, 2021: Securities Authorized for Issuance Under Equity Compensation Plans Number of shares Number of shares of of common stock common stock remaining to be issued upon available for future exercise of Weighted-average issuance under equity outstanding exercise price of compensation plans options, warrants outstanding options (excluding shares in Plan Category (1) (2) and rights warrants and rights column (a)) Equity compensation plans approved by security holders: 1990 Employee Stock Purchase Plan — $ — 59,303 2011 Executive Incentive Compensation Plan — $ — 1,074,992 Equity compensation plans not approved by security holders: None (1) The Company does not have individual compensation arrangements involving the grant of options, warrants and rights, but only grants equity awards under shareholder-approved plans. (2) The Employee Stock Purchase Plan was suspended effective March 31, 2021 due to conditions of the Pineapple merger agreement. During 2021, a change in control under the 2011 Executive Incentive Compensation Plan occurred related to the sale of the E&S segment. Vesting on all outstanding equity awards under the 2011 Executive Incentive Compensation Plan was accelerated, in-the-money options were exercised and out-of-the money options were cancelled and no further awards were granted under the 2011 Executive Incentive Compensation Plan (see Note 11 of the Notes to Consolidated Financial Statements under Item 8). Under the merger agreement, CSI may not issue, deliver, sell, or pledge any CSI common stock, any other voting securities or other equity interests or any securities convertible into, or any rights, warrants or options to acquire, any CSI common stock, except as permitted by the merger agreement. 31 Purchases of Equity Securities by the Issuer and Affiliated Purchasers In August 2019, CSI board of directors authorized a $2,000,000 Stock Repurchase Program. At December 31, 2021, there remained $341,000 under the 2019 Stock Repurchase Program. Under the merger agreement, CSI may not, except as expressly contemplated by the merger agreement, purchase, redeem or otherwise acquire any shares of CSI common stock or any other securities thereof or any rights, warrants or options to acquire any such shares or other securities. In the three months ended December 31, 2021, the company repurchased shares of stock as follows: ISSUER PURCHASES OF EQUITY SECURITIES Period (a) Total Number of Shares Purchased (1) Average Price Paid per Share (or Unit) Total Number of Shares (or Units) Purchased as Part of Publicly Announced Plans or Programs (b) Maximum Approximate Dollar Value of Shares that May Yet Be Purchased Under the Plans or Programs October 2021 — $ — — $ 341,242 November 2021 — — — 341,242 December 2021 — — — 341,242 Total — $ — — $ 341,242 (1) The total number of shares purchased includes shares purchased under the Board’s authorization described above, including market purchases and privately negotiated purchases . ITEM 6. [RESERVED] 32