Company: SOBR
Filing Date: 2025-06-13
Form Type: PRE 14A
Source: 0001477932-25-004596
Chunk: 41

Company: SOBR Safe, Inc.
Filing Date: 2025-06-13
Form: PRE 14A
Chunk 41
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, the stockholders approved and ratified an amendment to increase the shares authorized under the 2019 Plan to 3,182. On January 1, 2025, pursuant to the 2019 Plan’s annual automatic increase of shares authorized under the 2019 equal to 5% of the total number of shares of capital stock outstanding on December 31 of the preceding fiscal year, the total number of shares authorized under the 2019 Plan is 50,029.

The Company generally recognizes share-based compensation expense on the grant date and over the period of vesting or period that services will be provided

The Company now desires to increase the number of authorized shares of common stock under the plan to 350,000 as of the date of stockholder approval.The increase is a one-time increase in number of shares available under the 2019 Plan. This means that if the stockholders approve this Proposal No. 3, the shares available under 2019 Plan will be increased to 350,000 as of the date of stockholder approval, but no other increases in the number shares available under the 2019 Plan will occur without stockholder approval, subject to the 2019 Plan annual automatic increase.

The primary goal of the amendment to the 2019 Plan is to provide the company with a sufficient reserve of common stock to offer appropriate incentives to Company employees, directors and consultants.

Required Vote

In accordance with Delaware law, approval of Proposal No. 3 requires the affirmative vote of a majority of the shares of common stock present or represented by proxy and entitled to vote on this proposal at the Annual Meeting. As a result, abstentions will have the same effect as votes against this proposal.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS A VOTE “ FOR” THE APPROVAL OF AN AMENDMENT TO THE COMPANY’S 2019 EQUITY INCENTIVE PLAN TO ALLOW FOR UP TO 350,000 OF THE COMPANY’S FULLY DILUTED AND OUTSTANDING COMMON STOCK TO BE AWARDED UNDER THE PLAN.

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<div align='center'>PROPOSAL NO. 4

GRANTING THE BOARD OF DIRECTORS DISCRETION TO AMEND THE COMPANY’S

CERTIFICATE OF INCORPORATION TO IMPLEMENT A REVERSE STOCK SPLIT IN A RANGE

FROM ONE-FOR-TWO (1:2) UP TO ONE-FOR-TEN (1:10), OR ANYWHERE BETWEEN, AS MAY BE

DETERMINED BY