Omega Flex, Inc. Phantom Stock Agreements with Directors and Officers (2011–2014 Grants)

Summary

Omega Flex, Inc. entered into Phantom Stock Agreements with several directors and officers, granting them phantom stock units between 2011 and 2014. Each grant specifies the number of units, grant price, maturity date, and a three-year vesting schedule. The agreements provide recipients with the right to receive cash or equivalent value based on the company's stock price at maturity, without granting actual shares. These agreements are designed to incentivize and reward key personnel based on company performance over a set period.

EX-10.16 2 omfx_ex10z16.htm PHANTOM STOCK AGREEMENTS Phantom Stock Agreements



 

EXHIBIT 10.16

OMEGA FLEX, INC.

 

Phantom Stock Agreements

 

Schedule of Directors and Officers

 

As of December 31, 2014

 

Director/Officer

Type

Number

Grant Date

Grant Price

Maturity Date

Vesting Schedule

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Dean W. Rivest

Full

1,500

03/03/2011

$13.14

03/03/2015

3 years

 

Full

1,500

02/16/2012

$16.68

02/16/2016

3 years

 

Full

1,500

04/03/2013

$15.01

03/03/2017

3 years

 

Full

1,800

02/19/2014

$20.20

02/19/2018

3 years

 

 

 

 

 

 

 

Paul J. Kane

Full

1,500

03/03/2011

$13.14

03/03/2015

3 years

 

Full

1,500

02/16/2012

$16.68

02/16/2016

3 years

 

Full

1,500

04/03/2013

$15.01

03/03/2017

3 years

 

Full

1,800

02/19/2014

$20.20

02/19/2018

3 years

 

 

 

 

 

 

 

Edwin B. Moran

Full

1,500

03/03/2011

$13.14

03/03/2015

3 years

 

Full

1,500

02/16/2012

$16.68

02/16/2016

3 years

 

Full

1,500

04/03/2013

$15.01

03/03/2017

3 years

 

Full

1,800

02/19/2014

$20.20

02/19/2018

3 years

 

 

 

 

 

 

 

Steven A. Treichel

Full

2,100

03/03/2011

$13.14

03/03/2015

3 years

 

Full

2,100

02/16/2012

$16.68

02/16/2016

3 years

 

Full

2,100

04/03/2013

$15.01

03/03/2017

3 years

 

Full

2,550

02/19/2014

$20.20

02/19/2018

3 years

 

 

 

 

 

 

 

Timothy P. Scanlan

Full

1,500

03/03/2011

$13.14

03/03/2015

3 years

 

Full

1,500

02/16/2012

$16.68

02/16/2016

3 years

 

Full

1,500

04/03/2013

$15.01

03/03/2017

3 years

 

Full

1,800

02/19/2014

$20.20

02/19/2018

3 years

 

 

 

 

 

 

 

Steven Hockenberry

Full

590

02/16/2012

$16.68

02/16/2016

3 years

 

Full

590

04/03/2013

$15.01

03/03/2017

3 years

 

Full

710

02/19/2014

$20.20

02/19/2018

3 years