Company: SONM
Filing Date: 2025-08-12
Form Type: 8-K
Source: 0001641172-25-023214
Chunk: 1

Company: SONIM TECHNOLOGIES INC
Filing Date: 2025-08-12
Form: 8-K
Item: Item 5.02
Chunk 1
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Item      Departure                                                                                  

As
previously disclosed in the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on July 23,
2025, an amendment to the Sonim Technologies, Inc. 2019 Equity Incentive Plan (the “ EIP”) to increase the aggregate number
of shares of common stock authorized for issuance by 600,000 shares was not approved by stockholders at the Company’s 2025 annual
meeting.

On
August 11, 2025, the compensation committee of the board of directors (the “ Board”) of the Company approved the grant of
a cash award (the “ Substitute Cash Grant”) to non-employee directors of the Board in lieu of a grant of restricted stock
units (RSUs) under the EIP due to the unavailability of shares of common stock under the EIP.

The
amount of the Substitute Cash Grant will be determined using the following methodology (the “ Determination Formula”) designed
to closely replicate RSU vesting under the current non-employee director compensation policy:

  (i)       Assumption                                                                                
  (ii)      Assumption                                                                                

  a                                                                                            
  change in control, whether due to consummation of the asset purchase agreement or a reverse  
  takeover; or                                                                                 
 ───────────────────────────────────────────────────────────────────────────────────────────────
  the                                                                                          

(each
(a) and (b), a “ Vesting Event”)

  (iii)      the