Affinity Bancshares, Inc. 2018 Equity Incentive Plan Restricted Stock Award Agreement Addendum
This addendum notifies recipients of restricted stock awards under the Affinity Bancshares, Inc. 2018 Equity Incentive Plan that, due to the company's second-step conversion and related stock offering effective January 20, 2021, the number of unvested restricted stock shares has been adjusted. The adjustment uses a specific exchange ratio, and the new total of unvested shares is calculated by multiplying the previous amount by this ratio and rounding down. No fractional shares will be issued. The addendum ensures award holders are informed of the updated share amounts.
Exhibit 10.13
AFFINITY BANCSHARES, INC.
2018 EQUITY INCENTIVE PLAN
RESTRICTED STOCK AWARD AGREEMENT
ADDENDUM
NOTICE REGARDING YOUR RESTRICTED STOCK AWARDS
Name:[___________]
This notice is provided to you as a recipient of a Restricted Stock Award (“Restricted Stock Award”) under the Affinity Bancshares, Inc. 2018 Equity Incentive Plan (formerly known as the “Community First Bancshares, Inc. 2018 Equity Incentive Plan”) (the “Plan”).
In connection with the completion of second step conversion of Community First Bancshares, Inc. and related stock offering, effective January 20, 2021, (collectively, the “Second-Step Conversion”), the number of unvested Restricted Stock Awards you have has changed.
As a result of the Second-Step Conversion, the number of shares that you are entitled to receive upon your vesting date(s) has been converted using the Second-Step Conversion exchange ratio of 0.90685864 (“Exchange Ratio”) by multiplying the number of shares of unvested Restricted Stock by the Exchange Ratio and rounding down to the nearest whole number. Accordingly, the new total number of shares of unvested Restricted Stock that you hold are shown below (please note that no fractional shares will be issued).
