Omega Flex, Inc. Phantom Stock Agreements with Directors and Officers (2011–2014 Grants)
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.
| EXHIBIT 10.16 | |||||
OMEGA FLEX, INC. |
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Phantom Stock Agreements |
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Schedule of Directors and Officers |
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As of December 31, 2014 |
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Director/Officer | Type | Number | Grant Date | Grant Price | Maturity Date | Vesting Schedule |
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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 |
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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 |
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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 |
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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 |
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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 |
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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 |
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