Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 519

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 519
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. Gutterman’s achievement of performance goals, with the sum of the 2024 and 2025 bonuses being no less than 40% of Mr. Gutterman’s base salary, (C) a target annual bonus beginning in 2025 equal to 100% of base salary, with the actual amount of such bonus determined by the discretion of the Board, based on the achievement of individual and/or Company performance goals determined by our Board and payable on the date annual bonuses are paid to our other senior executives, but in no event later than March 15 thand conditioned upon Mr. Gutterman’s continued employment through the payment date, (D) a target annual stock bonus beginning in 2025 equal to 100% of Mr. Gutterman’s base salary, which may be paid in the Company’s performance stock units or restricted stock units (“RSUs”) and which shall be subject to vesting conditions following the grant of such units, (E) a recommendation to the Board that the Board make a sign -onequity grant valued at $ 1,000,000in the form RSUs calculated using a 30 day VWAP, which was $ 0.598, for a total of 1,671,681shares. One -thirdof the RSUs vest on each of the first two anniversaries of the grant date for a total of 1,114,454RSUs (“Time -basedRSUs”) and the remaining one -thirdof 557,228RSUs vest upon the Company’s remediation of certain stock exchange listing qualification failures that exist as of the effective date of the CEO Agreement (see below “Contingencies” for further explanation of the qualification failures) (“Market -basedRSUs”), and (F) eligibility to participate in customary health, welfare, and fringe benefit plans we provide to our employees. On September 30, 2024, the grant date, the Company’s board of directors approved the issuance of the RSUs, pursuant to the CEO Agreement. The Company relied on guidance set by FASB Accounting Standards Update No. 2021 -07(issued and updated on October 2021) related to Compensation — Stock Compensation (“Topic 718”) to determine the impact on the Company. The grant date fair value for the 1,114,454Time -basedRSUs was estimated to be approximately $ 735,000based on the Company’s closing price of $ 0.66as of the grant date. The Company