Company: ANY
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0001628280-25-015485
Chunk: 34

Company: Sphere 3D Corp.
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 34
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2025 (the date the 2015 Plan expires), and (iii) the number of any common shares subject to stock options or restricted stock units granted under the 2015 Plan and outstanding on May 14, 2025 which expire, or for any reason are cancelled or terminated, after that date without being exercised or settled, as applicable (such total number of shares, the “ Share Limit ”). As of the Record Date, there were [●] common shares available for new award grants under the 2015 Plan and [●] common shares were then subject to options and restricted stock units that remained outstanding under the 2015 Plan. No new awards may be granted under the 2015 Plan subsequent to its termination on May 14, 2025.

The Share Limit described above automatically increases on the first trading day in January of each calendar year during the term of the 2025 Plan, by an amount equal to the lesser of (i) ten percent (10%) of the total number of common shares issued and outstanding on December 31 of the immediately preceding calendar year, or (ii) such number of common shares as may be established by the Board.

The 2025 Plan generally provides that the number of Shares that are then available for new award grants under the plan, as well as the number of Shares subject to then-outstanding awards under the plan and the exercise prices of such awards, will be proportionately adjusted as described below under “Adjustments” in the event of a share split, reverse share split or similar event affecting the common shares.

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Except as provided in the next sentence, shares that are subject to or underlie awards granted under the 2025 Plan which expire or for any reason are cancelled or terminated, are forfeited, fail to vest, or for any other reason are not paid or delivered under the 2025 Plan shall again be available for subsequent awards under the 2025 Plan. Shares that are exchanged by a participant or withheld by the Company as full or partial payment in connection with any award granted under the 2025 Plan, as well as any shares exchanged by a participant or withheld by the Company or one of its subsidiaries to satisfy the tax withholding obligations related to any award granted under the 2025 Plan, shall be available for subsequent awards under the 2025 Plan. To the extent that an award granted under the 2025 Plan is settled in cash or a form other than shares, the shares that would have been delivered