Company: ABTC
Filing Date: 2025-07-31
Form Type: 424B3
Source: 0001213900-25-069998
Chunk: 263

Company: American Bitcoin Corp.
Filing Date: 2025-07-31
Form: 424B3
Chunk 263
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 reserve will be sufficient to provide equity incentives through January 1, 2026, when the share reserve will automatically increase unless otherwise determined by the Gryphon Board (or the Combined Company Board following the Closing). In addition to increasing the number of shares reserved for issuance, increasing the evergreen provision and extending the term of the plan, the 2024 Plan was amended to include an exception to increase the limitation on grants made to non -employeedirectors in extraordinary circumstances. This proposal is being submitted to Gryphon’s stockholders in compliance with the Nasdaq Corporate Governance Requirements concerning stockholder approval of equity compensation plans and/or material revisions to these plans. While equity incentive awards are an important part of Gryphon’s compensation program, the Gryphon Board and the Compensation Committee of the Gryphon Board are mindful of their responsibility to the Gryphon stockholders to exercise judgment in granting equity -basedawards. No burn rate data has been provided because the limited usage of equity grants in 2024 is not anticipated to be reflective of the Combined Company’s potential equity usage following the Closing. As of December 31, 2024, the following awards were outstanding under the 2024 Plan:

| Unvested Shares of Restricted Stock                           |     | 4,086,261 |
| RSU Awards Outstanding                                        |     | 3,529,034 |
| Performance Stock Unit (“PSU”) Awards Outstanding (at target) |     |   557,227 |

Based solely on the closing price of a share of Gryphon Common Stock, as reported on Nasdaq on May 9, 2025, which was $0.52 per share, the maximum aggregate market value of the shares of the Combined Company Common Stock that could be issued under the 2025 Plan as of immediately after the Closing is $551,968.04.

140 Summary of the Plan Amendment Proposal The 2025 Plan provides for the following grants: (a) incentive stock options (within the meaning of Section 422 of the Code) (“ ISO” or “ ISOs”); (b) nonstatutory stock options (i.e., options other than ISOs) (“ NSO” or “ NSOs”), (c) stock appreciation rights (“ SAR” or “ SARs”), (d) restricted stock grants, (e) RSUgrants, (f) performance grants and (g) other grants based in whole or in part by reference to shares that are granted pursuant to the terms and conditions of the 2025 Plan.