Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 142

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 142
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 Cola İçecek A.Ş, Sabancı University Board of Trustees and Saha Foundation. Mr. Ugur received his
Bachelor of Science from the University of Birmingham. Mr. Ugur is also qualified as a chartered accountant in the United Kingdom.

We believe Mr. Ugur is qualified to serve on our
Board because of his demonstrated business acumen, expertise in accounting and financial operations, and extensive experience serving
as a director.

Family Relationships

There are no family relationships between any
of our executive officers and directors.

Director Appointments

Mr. Freifeld was appointed to our Board pursuant
to the director appointment rights set forth in the investor rights agreement with, among others, Marti, Sponsor, Oguz Alper Öktem
and Cankut Durgun. The investors rights agreement provides that Sponsor and Messrs. Öktem and Durgun, acting severally, would cause
our Board to initially be comprised of seven directors, six nominated by Marti and one nominated by Sponsor.

B. Compensation

Compensation of Directors and Executive Officers

Under Cayman Islands law, we are not required
to disclose compensation paid to our executive officers on an individual basis and this information has not otherwise been publicly disclosed.
In 2024, an aggregate of $2,600,168 in cash compensation was paid to our executive officers. We did not pay any cash compensation to our
independent directors in 2024 regarding their board or committee duties. Pursuant to our Non-Employee Director Compensation Program, four
of our independent directors each received $10,000 in cash for their international travel to physically attend Board meetings.

In Türkiye, we are required by the applicable
laws and regulations to make employer contributions to the government-sponsored short-term and long-term disability insurance and unemployment
insurance on behalf of all employees as prescribed under the Social Security and General Health Insurance Law No. 5510. In 2024, we paid
an aggregate of $307,004 in respect of employer contributions to these government-sponsored benefit plans with respect to our executive
officers.

In Türkiye, Labor Law No. 4857 regulates
the minimum notice periods that must be provided by both employers and employees when terminating employment, which are determined based
on the length of such employee’s service.

Equity Awards

In
2024, our directors and executive officers were granted, under the Marti Technologies, Inc. 2023 Incentive Award Plan (as amended on