ASTROTECH Corp: adopts 1st Detect bonus plan with 20% pool

What happened

• The filing says that on Oct 13, 2026 Astrotech Corporation approved and adopted the 1st Detect Corporation Transaction Incentive Bonus Plan (the 1st Detect Bonus Plan) and approved the First Amendment to the Astrotech Corporation Transaction Bonus Plan (the First Amendment).
• The 1st Detect Bonus Plan creates a bonus pool equal to 20% of the actual aggregate fair market value of proceeds to be received by 1st Detect or the Company in connection with a Sale Transaction, subject to deductions and administrator determination, and will not be established unless the Transaction Value equals or exceeds $20,000,000.

Key details

• Effective date of the 1st Detect Bonus Plan: Oct 13, 2026; term: the earlier of 5 years after the Effective Date or termination under the plan.
• Bonus pool size: 20% of Transaction Value, net of indebtedness repayment and fees; no pool unless Transaction Value ≥ $20,000,000.
• Awards: certain key employees selected by the administrator are eligible; bonuses paid on or within 30 days after the date Sale Transaction proceeds are received; eligibility ceases if employment terminates or if a participant fails to timely return a release.
• Unallocated pool: any unallocated portion at closing will be distributed to 1st Detect or the Company, except that Mr. Tom Wilkinson, if an independent director and administrator member at the time, may award all or part of unallocated amounts to Thomas B. Pickens, III, the Company’s CEO, subject to plan terms.

Why it may matter

• The filing reports Item 5.02 and covers the adoption of the 1st Detect Corporation Transaction Incentive Bonus Plan and the First Amendment to the Astrotech Corporation Transaction Bonus Plan, describing how transaction bonuses will be calculated, allocated and paid. The filing does not show why the insider traded or why the company acted.