Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 386

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 386
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-employee directors, all of whom will be eligible for grants under the Incentive Plan, provided they remain in service to the Post-Closing Company or one of its parents or subsidiaries. As of September 30, 2025, PlusAI had approximately 176 employees (including five officers), three non-employee members of the PlusAI Board and zero natural person consultants, all of whom will be eligible for grants under the Incentive Plan, provided they remain in service to the Post-Closing Company or any of its parents or subsidiaries. CCIX plans to terminate any arrangements with employees, officers and natural persons and therefore they are not expected to be eligible to participate in the Incentive Plan. The basis for participation in the Incentive Plan is being eligible and being selected by the plan administrator, in its discretion, to receive a grant thereunder.

Authorized Shares; Adjustments

Subject to the adjustment provisions contained in the Incentive Plan and the evergreen provision described below, the maximum number of shares of Post-Closing Company Class A common stock will be reserved for issuance pursuant to the Incentive Plan will consist of: (1) shares of Post-Closing Company Class A common stock, plus (2) any shares of Post-Closing Company Class A common stock subject to Exchanged Options and Exchanged RSUs that, on or after the Effective Time, are cancelled or forfeited, expire or otherwise terminate without being

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exercised in full, are tendered to or withheld by the Post-Closing Company to satisfy payment of exercise price or tax withholding obligations, or are forfeited to or repurchased by the Post-Closing Company due to failure to vest, provided that the maximum number of shares that may be added to the Incentive Plan pursuant to this clause (2) is shares. The number of shares available for issuance under the Incentive Plan also will include an annual increase, or the evergreen feature, on the first day of each fiscal year of the Post-Closing Company, beginning with the Post-Closing Company’s 2026 fiscal year, equal to the least of:

shares of Post-Closing Company Class A common stock;

a number of shares of Post-Closing Company Class A common stock equal to 5% of the total number of shares of all classes of Post-Closing Company common stock outstanding on the last day of the immediately preceding fiscal year; and

such number of shares of Post-Closing Company Class A common stock as the administrator