Company: HSDTW
Filing Date: 2025-05-02
Form Type: DEF 14A
Source: 0001104659-25-044128
Chunk: 28

Company: Solana Co
Filing Date: 2025-05-02
Form: DEF 14A
Chunk 28
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 whereby on the 10 th calendar date following the first closing of the transaction set forth in Proposal 3, there would be an automatic increase in the aggregate number of shares of Common Stock that may be issued pursuant to Awards (as defined in the 2022 Equity Incentive Plan) to an amount equal to 20% of the Fully Diluted Shares (as defined in the 2022 Equity Incentive Plan) as of the date thereof, provided, however that the Board may act prior to the effective date of any such increase to provide that the increase will be a lesser number of shares of Common Stock.

Our officers and directors have an interest in this Proposal 4 due to their participation in the 2022 Equity Incentive Plan.

As of the Record Date, we had 1 share of our Common Stock remaining available for issuance for awards under the 2022 Equity Incentive Plan.

We are Committed to Using the Shares Available Under the 2022 Equity Incentive Plan Prudently to Advance the Company’s Interests

We continue to believe that equity awards such as stock options and other types of stock awards are a vital part of our overall compensation program. Our compensation philosophy reflects broad-based eligibility for equity incentive awards, and we grant awards to substantially all of our employees. However, we recognize that equity awards dilute existing stockholders, and, therefore, we must responsibly manage our use of equity compensation. We are committed to effectively monitoring our equity compensation share reserve, including our burn rate, to ensure that we maximize stockholders’ value by granting the appropriate number of equity incentive awards necessary to attract, reward, and retain employees.

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TABLE OF CONTENTS

Summary of the 2022 Equity Incentive Plan, as proposed to be amended

The material features of the 2022 Equity Incentive Plan are described below. The following description of the 2022 Equity Incentive Plan is a summary only and is qualified in its entirety by reference to the complete text of the 2022 Equity Incentive Plan. Stockholders are urged to read the proposed Amendment, attached to this proxy statement as

#### Appendix C
. If our stockholders approve the Amendment, a registration statement on Form S-8 covering the shares added to the share reserve will be filed with the SEC.

#### General
The 2022 Equity Incentive Plan provides that all current and prospective employees, consultants and non-employee directors of the Company or its affiliates may be