Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 508

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 508
---
 of consideration for payment of applicable exercise prices and tax withholding and treatment of options following a grantee’s termination of service. The 2017 Plan generally provides that options will remain outstanding for 12 months following termination of a grantee’s service by reason of death, six months following termination of a grantee’s service by reason of disability, or otherwise three months following termination of a grantee’s service, provided that in any event options will expire no later than the end of their term and will immediately terminate on a grantee’s termination of service for cause (as defined in the 2017 Plan). Options granted under the 2017 Plan are exercisable upon a triggering event (as defined in the 2017 Plan), which generally includes PlusAI’s initial public offering or listing on any stock exchange or other securities market, or such other event determined by the administrator from time to time as constituting a triggering event. The Closing will constitute a triggering event for purposes of options granted under the 2017 Plan. Prior to the occurrence of a triggering event, Shares issued under the 2017 Plan generally are held under the name of a trustee. Following the occurrence of a triggering event, Shares then held in the trust are transferred by the trustee to the applicable participant.

<div align='center'>324</div>

Optionholders do not have stockholder rights until the underlying shares are fully paid (including the satisfaction of any applicable tax withholding obligations) and the optionee is entered in the books and records as a stockholder. The option agreements under the 2017 Plan generally provide that, if so required by PlusAI at the time of the option exercise, as a condition to exercising, the optionholder must enter into a voting agreement, power of attorney or other agreement prescribed by the Company that will transfer the optionholder’s voting rights on all matters to a person designated by the Company.

Awards of Shares.Each award of Shares under the 2017 Plan was evidenced by a share grant agreement between the grantee and PlusAI. Each such award is subject to all applicable terms and conditions of the 2017 Plan and the applicable share grant agreement. Any right to purchase Shares under the 2017 Plan (other than an option) will automatically expire if not exercised by the grantee within the time period specified in the relevant award agreement. Each share grant agreement specifies the purchase price of a Share, which is determined by the administrator but is not less than 100% of the fair market value on the date of award and in no circumstances less