ANGIODYNAMICS INC
For the period ended May 31, 2024. Filed Sep 26, 2024.
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May 31, 2024 · Filed Sep 26, 2024
Contents
Burn Rate and Potential Dilution
Based on the closing market price of our common stock on September 19, 2024, which was $7.70, the additional 3,200,000 shares proposed to be made available for issuance under the 2020 Plan would have a market value of approximately $24,640,000. The potential dilution resulting from issuing all of the outstanding awards under the 2004 Plan and the outstanding awards and shares remaining available for issuance under the 2020 Plan would be approximately 11.9% on a fully-diluted basis using our common stock outstanding as of September 19, 2024 (40,634,249 shares). If the additional 3,200,000 shares proposed are made available for issuance under the 2020 Plan, the potential dilution will increase by 5.7 percentage points and fully-diluted total potential dilution would approximate 17.6%.
The information included in this Proxy Statement and our 2024 Annual Report is updated by the following information regarding all existing equity compensation plans as of September 19, 2024:
| Total number of stock options outstanding(1) | 2,568,607 |
|---|---|
| Weighted-average exercise price of stock options outstanding | $14.7 |
| Weighted-average remaining duration of stock options outstanding | 6.66 years |
| Total number of full value awards outstanding (includes restricted stock units and performance share units)(2) | 2,611,542 |
| Shares available for grant under the 2020 Plan(3) | 902,449 |
| Total shares of common stock outstanding as of the record date | 40,634,249 |
(1) No stock appreciation rights were outstanding as of September 19, 2024.
(2) The number of shares of outstanding PSUs assumes performance at the target performance level.
(3) The 2020 Plan is our only active employee equity incentive plan. The number of shares remaining available for future grants under the 2020 Plan reflects PSUs at target payout.
The “burn rate,” or share utilization rate, related to our use of equity compensation awards for the last three fiscal years is shown in the table below:
| Fiscal Year | Awards Granted(1) | Diluted Weighted Average Number of Shares of Common Stock Outstanding (2) | Burn Rate(3) |
|---|---|---|---|
| 2024 | 1,855,583 | 40,180,925 | 1.62% |
| 2023 | 742,784 | 39,480,367 | 1.88% |
| 2022 | 817,376 | 39,009,419 | 2.10% |
(1) Includes stock options, restricted stock units, and performance unit awards (assuming performance is achieved at the target level).
(2) As stated in the Company’s Annual Report on Form 10-K for the fiscal year ending May 31, 2024.
(3) Shown on a fully-diluted basis.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.