Company: NCEL
Filing Date: 2025-03-31
Form Type: F-4/A
Source: 0001213900-25-026428
Chunk: 813

Company: NewcelX Ltd.
Filing Date: 2025-03-31
Form: F-4/A
Chunk 813
---
 PN, Ltd., as discussed above. On December 31, 2023, the Company held 3,242,887treasury shares for financing arrangements (2022: no such treasury shares were held). Option Plan: On December 14, 2021, the Board of Directors adopted the Share Option Plan Regulation 2021 (the “Option Plan”). The purpose of the Option Plan is to retain, attract and motivate management, employees, directors and consultants by providing them with options to purchase our common shares. The Board of Directors allocated fifteen percent ( 15%) of our fully diluted shares to awards that may be made pursuant to the Option Plan. The exercise prices, vesting and other restrictions of the awards to be granted under the Option Plan are determined by the Board of Directors, except that no stock option may be issued with an exercise price less than the fair market value of the common shares at the date of the grant or have a term in excess of tenyears. Options granted under the Option Plan are exercisable in whole or in part at any time subsequent to vesting.

The following table summarizes total stock option activity for the year ended December 31, 2023:

|                                |     | Number of 
   Options |   |     | Weighted       
 Average        
 Exercise Price |      |
|:-------------------------------|:----|----------:|:--|:----|:---------------|-----:|
| Balance at December 31, 2022   |     | 1,333,123 |   |     | $              | 1.23 |
| Granted                        |     |   776,344 |   |     | $              | 0.76 |
| Exercised                      |     |         — |   |     |                |    — |
| Expired/cancelled              |     |  (245,809 | ) |     | $              | 0.99 |
| Balance at December 31, 2023   |     | 1,863,658 |   |     | $              | 1.07 |
| Options vested and exercisable |     |   449,515 |   |     |                |      |
| Options expected to vest       |     | 1,414,143 |   |     |                |      |

The weighted average remaining contractual life of each of the options outstanding, options vested and exercisable and options expected to vest at December 31, 2023 was 8.8years.

The