DUOS TECHNOLOGIES GROUP, INC.

Code

A

Shares

2,799

Price

$8.93

Footnotes

3

These shares were issued to Mr. Recker as compensation for his services as a Director of the Issuer. These shares were granted pursuant to the Issuer's 2021 Equity Incentive Plan, as amended, and are subject to a three-year cliff vesting period. All of these shares vest on January 1, 2028, subject to acceleration, under the terms of Mr. Recker's Employment Agreement, to April 1, 2027, if certain fiscal 2026 targets are achieved. These shares were granted pursuant to the Issuer's 2021 Equity Incentive Plan, as amended, and are subject to cliff-vesting periods. The grant was in two tranches of 440,000 shares each, with each such tranche allocated (a) 40% to time-based restricted shares (176,000 shares per tranche), vesting on January 1, 2029 and January 1, 2030 (subject to acceleration, under the terms of Mr. Recker's Employment Agreement, to April 1, 2028 and April 1, 2029, respectively, if certain targets are achieved), and (b) 60% to performance-based restricted shares (264,000 shares per tranche), vesting upon certification of achievement of the applicable fiscal year's (2027 or 2028) respective targets.