MEXCO Energy approved an amended and restated 2019 Employee Incentive Stock Plan and two stock-option award agreements, including four-year and one-third vesting schedules. The change matters to investors because it sets the terms under which employees, directors and consultants of the company or its Subsidiary may receive and exercise Equity awards.

Key Highlights

  • One award schedule reaches 100% vesting on the fourth anniversary of the grant date.
  • The alternative schedule vests one-third at grant and on each of the first two anniversaries.
  • The plan covers employees, directors and consultants of MEXCO Energy or its subsidiary.

MEXCO ENERGY CORP (AMEX: MXC) has amended and restated its 2019 Employee Incentive Stock Plan and approved two award agreement forms for stock options. One form uses a four-year vesting schedule, while the other provides one-third vesting on the grant date and each of the first two anniversaries. The arrangements cover employees, directors and consultants of Mexco Energy or its subsidiary. The Compensation Committee of the Board approved the forms in connection with the plan.

The first award form uses staged vesting tied to anniversaries of the grant date. Options become exercisable for 25% of the covered shares on the first anniversary, 50% on the second, 75% on the third and 100% on the fourth. Continuous employment from the grant date through each applicable vesting date is required for additional shares to become exercisable. The agreement also provides for full exercisability after a change of control, death or disability, or termination by the company or its subsidiary for reasons other than cause, subject to the agreement’s conditions.

Grant-Date Vesting Alternative

The second award agreement uses a different schedule, with one-third of the award vesting on the grant date and another one-third on each of the first two anniversaries. The two forms therefore establish separate vesting structures under the amended plan. The award terms distinguish between incentive stock options for qualifying employees and nonqualified stock options in other circumstances. Options remain subject to the plan and the Compensation Committee’s administrative interpretations.

Eligible Award Recipients

The amended plan and its award agreements apply to employees, directors or consultants of MEXCO Energy or its subsidiary. The agreements cover rights to purchase common stock, with the number of shares and grant price determined for each award and subject to adjustment under the plan. The company had 2,046,000 shares of common stock outstanding as of July 20, 2026. The stock had a Par Value of $0.50 per share.