Company: MIRA
Filing Date: 2025-07-29
Form Type: PRER14A
Source: 0001641172-25-021434
Chunk: 107

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-07-29
Form: PRER14A
Chunk 107
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 5635(c) (the “Re-Pricing Amendment”, and together with the Share Plan Increase, the “Plan                  
 Amendments”).                                                                                                                        |

The purpose of the Plan is to advance the interests of the Company and its stockholders by enabling the Company to attract and retain qualified individuals to perform services, to provide incentive compensation for such individuals in a form that is linked to the growth and profitability of Company and increases in stockholder value, and to provide opportunities for equity participation that align the interests of recipients with those of its stockholders. On July 22, 2025, the Board discussed and approved the Plan Amendments. The Company believes that the Share Plan Increase will provide the Company additional ability to partner with key scientific consultants and incentivize its current employees and executive officers to achieve certain developmental and financial milestones. The Company anticipates that the Re-Pricing Amendment will lower the exercise price of certain outstanding options that are “out-of-the-money” and generate additional capital through payment of the exercise price.

Below is a summary of the terms of the Plan. Please see Appendix Ato this proxy statement for the complete plan, which include the proposed Plan Amendments.

Administration

The Plan is administered by our board of directors or our compensation committee, or any other committee or subcommittee or one or more of our officers to whom authority has been delegated (collectively, the “Administrator”). The Administrator has the authority to interpret the Plan and award agreements entered into with respect to the Plan; to make, change and rescind rules and regulations relating to the Plan; to make changes to, or reconcile any inconsistency in, the Plan or any award agreement covering an award; and to take any other actions needed to administer the Plan.

Eligibility

The Administrator may designate any of the following as a participant under the Plan: any officer or employee, or individuals engaged to become an officer or employee, of our company or our affiliates; and consultants of our company or our affiliates, and our directors, including our non-employee directors.

Types of Awards

The Plan permits the Administrator to grant stock options, stock appreciation rights (“SARs”), performance shares, performance units, shares of common stock, restricted stock, restricted stock units (“RSUs”), cash incentive awards, dividend equivalent units, or any other type of award permitted under the Plan. The Administrator may grant any type of award to any participant it selects, but only our employees or our subsidiaries’ employees may receive grants of incentive stock options within the meaning of Section 422 of the Internal Revenue Code. Awards may