Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 909

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 8
Chunk 909
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, the Company made contributions to the 401(k) plan of less than $0.1 million, respectively.

    F-21

ZRCN
                                            Inc.

NOTES
TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR
THE YEARS ENDED MARCH 31, 2025 AND 2024

12.
Equity

On
February 28, 2024 the Company adopted a 2024 Equity Incentive Plan (the “Equity Plan”). The Plan provides for granting of
stock options (“Options”), restricted stock units (“RSUs”), and other equity-based awards tied to the value of
shares of common stock to key personnel, including directors, officers, employees, consultants, and advisors of the Company and its subsidiaries.
The Plan provides for the grant of options (which may include “incentive stock options” (“ISOs”) within the meaning
of Section 422 of the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”)), stock appreciation rights
(“SARs”), restricted stock, restricted stock units (“RSUs”), and other stock-based awards. As of March 31, 2025,
40,000,000 shares are authorized for issuance and 36,883,500 shares
remain available for issuance under the Equity Plan. The number of shares of Common Stock available for grant and issuance under this
Plan will be automatically increased on the first day of each calendar year beginning with the first January 1 following the effective
date and ending with the last January 1 during the initial ten-year term of the Equity Plan, equal to the lesser of (A) five percent
(5%) of the shares of Common Stock outstanding (on an as-converted basis) on the final day of the immediately preceding calendar year
and (B) such lesser number of shares of Common Stock as determined by the Board.

The
following table summarizes the Company’s employee and non-employee Option activity under the Equity Plan for the following periods:

 Schedule Employee and Non-employee Option Activity

    Number
    of shares  
    Weighted
    average exercise price  
    Weighted
    average remaining term (years)  
    Aggregate
    intrinsic value (in thousands) 
  
    Outstanding
    as of March 31, 2023 
    —  
    —  
    —  
    — 
  
    Options
    granted 
    —  
    —  
    —