Company: MVNC
Filing Date: 2025-01-21
Form Type: DEF 14C
Source: 0001683168-25-000446
Chunk: 22

Company: Marvion Inc.
Filing Date: 2025-01-21
Form: DEF 14C
Chunk 22
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 an award). This summary is not a complete description of all provisions of the 2023 Plan and is qualified in its entirety by reference
to the 2023 Plan, which is filed as to this Information Statement.

The 2023 Plan was approved
and ratified by the Voting Stockholders on December 28, 2024, in order to ensure (i) favorable federal income tax treatment for grants
of incentive stock options under Section 422 of the United States Internal Revenue Code of 1986, as amended (the “Code”),
and (ii) eligibility to receive a federal income tax deduction for certain compensation paid under the 2024 Plan by complying with Rule
162(m) of the Code. The Company originally reserved a total of 17,000,000,000 shares of our authorized common stock for issuance under
the 2023 Plan. On May 8, 2024, we effectuated a 3000:1 reverse stock split of our Common Stoc, (the “Reverse Split”), As
a result, the 17,000,000,000 shares initially approved and reserved under the 2023 Plan were equitably reduced to 5,666,667 shares of
Common Stock.

The 2023 Plan was established
to maintain and enhance the key policies and practices adopted by our management and board of directors to align employee and stockholder
interests. In addition, our future success depends, in large part, upon our ability to maintain a competitive position in attracting,
retaining and motivating key personnel. We believe that the adoption of the 2023 Plan is essential to permit our management to continue
to provide long-term, equity-based incentives to present and future employees.

Summary of the 2023 Plan

The principal terms of the 2023
Plan are summarized below. This summary is not a complete description of the 2023 Plan, and it is qualified in its entirety by reference
to the complete text of the 2023 Plan document which is attached as hereto.

Shares Available for Issuance

We reserved 17,000,000,000 shares
to be issued under the 2023 Plan (plus certain other Shares related to awards which are forfeited, repurchased or used to satisfy the
exercise price or tax withholding on an award). This number was equitably reduced to 5,666,667 shares of Common Stock after the Reverse
Split. The number of Shares reserved for grant and issuance under the 2023 Plan increases automatically