Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 127

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 127
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 pursuant to which each independent director is entitled to the receive $100,000 in cash compensation per year, subject to the review and determination by the Board. 2024 Equity Incentive Plan Pursuant to the Business Combination Agreement, the Board adopted and approved a 2024 Equity Incentive Plan (the “Incentive Plan”), which became effective upon the Closing. The Incentive Plan is administered by the plan administrator, who is the Board or a committee that the Board designates. The plan administrator has the power to determine, among other things, the terms of the awards granted under the Incentive Plan, including the exercise price, the number of shares subject to each award (and the class of shares), and the exercisability and vesting terms of the awards, subject to the terms of the Incentive Plan. The plan administrator also has the power to determine the persons to whom and the time or times at which awards will be made and to make all other determinations and take all other actions advisable for the administration of the Incentive Plan. All decisions made by the administrator pursuant to the provisions of the Incentive Plan will be final, conclusive, and binding. A total number of shares of Common Stock equal to 20% of the outstanding shares of Common Stock at the Closing, will be available for grant under the Incentive Plan. Upon the Closing, 1,454,019shares of Common Stock became authorized for issuance under the Incentive Plan as of the Closing. Rule 10b5-1 Sales Plans Our directors and executive officers may adopt written plans, known as Rule 10b5 -1plans, in which they will contract with a broker to buy or sell shares of our Common Stock on a periodic basis. Under a Rule 10b5 -1plan, a broker executes trades pursuant to parameters established by the director or executive officer when entering into the plan, without further direction from them. The director or executive officer may amend a Rule 10b5 -1plan in some circumstances and may terminate a plan at any time. Our directors and executive officers also may buy or sell additional shares outside of a Rule 10b5 -1plan when they are not in possession of material non -publicinformation, subject to compliance with the terms of our insider trading policy. The sale of any shares under such a plan will be subject to the Lock -UpAgreements, to the extent that the selling director or executive officer is a party thereto. Emerging Growth Company