Summary of SONO TEK CORP - Yahoo! Finance

Item 5.02: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 8, 2012, Sono-Tek Corporation's Board of Directors granted options to the officers named in the table below at an exercise price of $0.61. These options vest as follows: 33.33% on the date of grant, 33.33% one year from the date of grant and 33.33% two years from the date of grant. The options expire ten years from the date of grant.

In exchange for the newly issued options, the Officers surrendered their outstanding options and these were cancelled. The surrendered options were set to expire at various dates from 2014 to 2021.

                                         Options           Average         Options            New
                                       Surrendered      Strike Price        Issued        Strike Price
Christopher L. Coccio, CEO                  486,893     $        0.95        486,893     $         0.61
R. Stephen Harshbarger, Pres.                10,000     $        0.95         10,000     $         0.61
Joseph Riemer, VP                           264,975     $        1.02        264,975     $         0.61
Stephen J. Bagley, CFO                       48,850     $        0.81         48,850     $         0.61