Company: TPET
Filing Date: 2025-06-03
Form Type: PRE 14A
Source: 0001641172-25-013496
Chunk: 24

Company: Trio Petroleum Corp.
Filing Date: 2025-06-03
Form: PRE 14A
Chunk 24
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holders. If our stockholders do not approve the above-described amendment to the 2022 Plan, the amendment will not take effect, and the number of shares of common stock reserved for issuance under the 2022 Plan will not be automatically increased on an annual basis, unless and until the stockholders approve the above-described amendment to the 2022 Plan, with respect to such “evergreen” provision. The Board has determined that it is in the best interests of us and our stockholders that this amendment to the 2022 Plan be approved and is asking our stockholders for their approval of this amendments to the 2022 Plan. The form of Amendment No. 2 to the 2022 Plan, which includes this amendment only is attached as Annex D to this Proxy Statement.

See “Proposal No. 3- The 2022 Plan Increased Shares Proposal – Background”for further information.

Summary of Material Terms of the 2022 Plan

See “Proposal No. 3- The 2022 Plan Increased Shares Proposal – Summary of Material Terms of the 2022 Plan”for further information.

Vote Required

The affirmative vote of the majority of shares of common stock present in person or represented by proxy at the Annual Meeting and entitled to vote is required to approve the 2022 Plan Evergreen Proposal. Abstentions will have no effect on the outcome of the vote.

Separate Vote on 2022 Plan Increased Shares Proposal

A stockholder’s vote, with respect to this 2022 Plan Evergreen Proposal is entirely separate from the Company’s request for approval of Proposal No. 3 (2022 Plan Increased Shares Proposal) and stockholders will vote separately for each such proposal so that it is possible that (i) both proposals may be approved, (ii) both proposals may not be approved or (ii) one of such proposals is approved and the other is not approved. If both proposals are approved the form of Amendment No. 1 to the 2022 Plan, a copy of which is included as Annex C to this Proxy Statement, will be the applicable form of Amendment No. 1 and include both the amendments provided in the 2022 Plan Increased Shares Proposal and the amendment provided in the 2022 Plan Evergreen Proposal.

Recommendation of the Board

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “FOR” THE 2022 PLAN INCREASED SHARES PROPOSAL.

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<div align='center'>PROPOSAL NO.