Form 4: Bio-Key International Director Acquires Shares as Board Meeting Compensation

Robert J. Michel, a director at Bio-Key International, acquired 2,587 shares of common stock as compensation for board meeting attendance fees.

Summary

• On November 7, 2024, Robert J. Michel, a director of Bio-Key International, acquired 2,587 shares of common stock.
• The shares were acquired as part of the Issuer's 2023 Stock Incentive Plan.
• The acquisition was in payment of board meeting attendance fees.
• Following the transaction, Michel directly owns 10,435 shares of Bio-Key International.
• The transaction was reported on November 8, 2024.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a routine transaction. The director receiving stock compensation is a normal part of corporate governance.

Positives

• The acquisition of shares by a director demonstrates confidence in the company.

Industry Context

This type of stock compensation for board members is a fairly standard practice across many publicly traded companies.

Comparison to Industry Standards

• Director compensation through stock grants is a common practice.
• Companies like Okta, CrowdStrike, and Zscaler also use stock options and grants as part of their director compensation packages.
• The amount of stock granted varies depending on the company's size, industry, and compensation policies.

Related Party Transactions

• The issuance of shares to Robert J. Michel, a director, is a related party transaction.

Stakeholder Impact

• The transaction has a minor dilutive effect on existing shareholders due to the issuance of new shares.

Key Dates

Keywords

Form 4, Beneficial Ownership, BIO-KEY INTERNATIONAL, BKYI, Robert J. Michel, Director, Stock Incentive Plan, Board Meeting Fees, Share Acquisition