Aware completes stock option exchange; 96% of eligible options surrendered for new options at $2.21

AWARE INC /MA/

9 executives exchanged options on 2.18M shares (96% of eligible); new options on 933K shares at $2.21.
CEO R. Eckel surrendered 1.45M options (avg exercise $4.91) for 619K new options.
CTO M. Lazzouni swapped 375K options (avg $4.98) for 157,873; PFO D. Traverse swapped 100K for 44K.
New options vest 50% on 1st anniversary and monthly over next 12 months.
Exchange conducted under 2023 Equity and Incentive Plan; non-employee directors ineligible.

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