Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 258

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 258
---
 be determined, or recommended to the Board of Directors for determination, either by a compensation committee
constituted solely by independent directors or by a majority of the independent directors on our Board of Directors.

We do not intend to take any
action to ensure that members of our Management Team maintain their positions with us after the consummation of our initial Business Combination,
although it is possible that some or all of our officers and directors may negotiate employment or consulting arrangements to remain with
us after our initial Business Combination. The existence or terms of any such employment or consulting arrangements to retain their positions
with us may influence our Management’s motivation in identifying or selecting a target business, but we do not believe that the
ability of our Management to remain with us after the consummation of our initial Business Combination will be a determining factor in
our decision to proceed with any potential Business Combination. We are not party to any agreements with our officers and directors that
provide for benefits upon termination of employment.

Item
12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters.

The following table sets forth
information regarding the beneficial ownership of our Ordinary Shares as of March 31, 2025 based on information obtained from the persons
named below, with respect to the beneficial ownership of Ordinary Shares, by:

    ●
    each person known by us to be the beneficial owner of more than 5% of our outstanding Ordinary Shares;

    ●
    each of our executive officers and directors that beneficially owns our Ordinary Shares; and

    ●
    all our executive officers and directors as a group.

31

In the table below, percentage
ownership is based on 30,666,667 of our Ordinary Shares, consisting of (i) 23,000,000 Class A Ordinary Shares and (ii) 7,666,667 Class
B Ordinary Shares, issued and outstanding as of March 31, 2025. On all matters to be voted upon, except for (x) the election of directors
of the Board and (y) continuing our Company in a jurisdiction outside the Cayman Islands (including any special resolution required to
amend our Amended and Restated Memorandum or to adopt new constitutional documents, in each case, as a result of our approving a transfer
by way of continuation in a jurisdiction outside the Cayman Islands), holders of the Class A Ordinary Shares and Class B Ordinary Shares
vote together as a single class, unless otherwise required by applicable law. Currently, all