Company: LNAI
Filing Date: 2025-10-15
Form Type: DEF 14A
Source: 0001731122-25-001378
Chunk: 23

Company: Lunai Bioworks Inc.
Filing Date: 2025-10-15
Form: DEF 14A
Chunk 23
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   430,290 |

(1) Amounts shown do not reflect compensation actually
received by the executive officer. Instead, the amounts shown are the total grant date valuations of stock option grants awarded during
the year as determined pursuant to ASC Topic 718. The valuations are expensed for financial reporting purposes over the vesting period
of the grant.

(2) Effective October 12, 2024, Dr. Dybul resigned
from the Company. “Other Compensation” paid for fiscal year ended June 30, 2025, reflects an accrual for paid time off. On
October 28, 2024, we filed an amendment to our Annual Report on Form 10-K originally filed October 10, 2024 for fiscal year ended June
30, 2024. The Summary Compensation Table in that report included a mathematical error. The amount previously reported in the total compensation
for Mr. Dybul was $1,660,906; whereas the columns should have added to $1,759,326, reflecting a difference of $98,420. No other line items
for Mr. Dybul and no amounts for other named executive officers were affected. This proxy statement presents the corrected amounts.

(3) Effective March 21, 2024, Ms. Puche resigned from
the Company.

(4) Effective January 6, 2025, Mr. Tarsh was removed
as interim Chief Financial Officer.

(5) Effective November 22, 2024, Mr. Binette resigned
from the Company.

Narrative to Summary Compensation Table

The Compensation Committee of our
Board of Directors reviews compensation annually for all of our executive officers. Compensation awarded to Named Executive Officers in
2025 and 2024 generally consisted of base salary, restricted stock units and equity awards for options to purchase shares of our Common
Stock.

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The Compensation Committee considered
compensation for comparable positions in the market, the historical compensation levels of the executives, individual performance as compared
to its expectations and objectives, the desire to motivate employees to achieve short- and long-term results that are in the best interests
of our stockholders, and a long-term commitment to our company. We do not target a specific competitive position or a specific mix of
compensation among elements of compensation.

Employment Agreements and Potential Payments upon Termination or Change in Control Provisions

As of the fiscal year ended June
30, 2025,