Alico, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Common Stock and Options (Tables)

Common Stock and Options (Tables)

12 Months Ended

Sep. 30, 2021

Summary of status of nonvested shares and stock option activity

The following table represents a summary of the status of the Company’s nonvested shares:

Nonvested Shares	Shares			Weighted- Average Grant Date Fair Value
Nonvested Shares at September 30, 2018		7,333		$	41.46
Vested during fiscal year 2019		(1,667	)		31.95
Nonvested Shares at September 30, 2019		5,666			44.26
Vested during fiscal year 2020		(5,666	)		44.26
Nonvested Shares at September 30, 2020		—			—
Granted during fiscal year 2021		5,885			31.20
Nonvested Shares at September 30, 2021		5,885		$	31.20

The following table represents a summary of the Company’s stock option activity:

	Number of Options			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term (years)		Aggregate Intrinsic Value
Balance - September 30, 2019		227,500		$	31.46		1.22		—
Granted during fiscal year 2020		118,000			33.96	2.25			—
Forfeitures/expired during fiscal year 2020		(52,500	)		33.60		—		—
Balance - September 30, 2020		293,000			32.09		1.79		—
Forfeitures/expired during fiscal year 2021		(75,000	)		27.15		—		—
Balance - September 30, 2021		218,000		$	33.78		0.79		—

Schedule of stock options using valuation assumptions

The expected term of options granted is derived from the output of the option valuation model and represents the period of time that options granted are expected to be outstanding; the range given below results from different timeframes for the various market conditions being met.

2020 Option Grant

Expected Volatility	26.0	%
Expected Term (in years)	3.61
Risk Free Rate	1.60	%

The weighted-average grant-date fair value of the 2020 Option Grant was $3.20.

2019 Modified Option Grant

Expected Volatility		25.0	%
Expected Term (in years)	1.50
Risk Free Rate		2.52	%

The weighted-average grant-date fair value of the 2019 Modified Option Grant was $1.40.

2019 Option Grants

Expected Volatility		30.0	%
Expected Term (in years)	4.09
Risk Free Rate		2.95	%

The weighted-average grant-date fair value of the 2019 Option Grants was $7.10.