Sypris grants performance-vesting stock options to CEO, CFO, and VP based on 2023 pre-tax income targets

SYPRIS SOLUTIONS INC

Board approved 2023 Performance Option Awards: Jeff Gill (60k-100k), Richard Davis (40.8k-68k), Anthony Allen (24k-40k) shares.
Vesting tied to quarterly Pre-Tax Income targets: threshold at 81%, maximum at 90% of annual operating plan.
Cumulative 2023 Pre-Tax Income must reach at least 70% for any options to vest; unvested options forfeit on termination except death/disability.
Service-vesting requires continued employment through April 1, 2024; performance determined by Compensation Committee.

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