Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1454

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1454
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 mean (i) Awards to Eligible Persons who
are not employed or engaged by the Company or any of its subsidiaries as of the last day of any fiscal quarter of the Company, commencing
with the fiscal quarter ending March 31, 2023 and (ii) Awards that have a grant date at least three (3) years prior to the last day of
any fiscal quarter of the Company, commencing with the fiscal quarter ending March 31, 2023.

     F-31 

2021
Plan

The
Company’s 2021 Plan was adopted by the Board on February 12, 2021 and approved by the stockholders on March 25, 2021. The 2021
Plan was amended and restated effective as of October 29, 2021, and May 27, 2022, respectively. The 2021 Plan authorizes the Company
to issue shares of common stock upon the exercise of stock options, the grant of restricted stock awards, and the conversion of restricted
stock units (collectively, the “Awards”). The Compensation Committee has full authority, subject to the terms of the 2021
Plan, to interpret the 2021 Plan and establish rules and regulations for the proper administration of the 2021 Plan. Subject to certain
adjustments as provided in the 2021 Plan, the maximum aggregate number of shares of the Company’s common stock that may be issued
under the 2021 Plan (i) pursuant to the exercise of options, (ii) as shares or restricted stock and (iii) in settlement of RSUs shall
be limited to (A) during the Company’s fiscal year ending December 31, 2021 (the “2021 Fiscal Year”), 1,460,191 Shares,
(B) for the period from January 1, 2022 to June 30, 2022, fifteen percent (15%) of the number of Shares outstanding on January 3, 2022,
which was the first trading day of 2022, and (C) beginning with the third quarter of the Company’s fiscal year ending December
31, 2022 (the “2022 Fiscal Year”), fifteen percent (15%) of the number of Shares outstanding as of the first trading day
of each quarter, net of any Shares awarded in the previous quarter(s). Subject to certain adjustments as provided in the 2021 Plan, (i)
shares subject to the 2021 Plan