Company: PELI
Filing Date: 2025-10-30
Form Type: S-4
Source: 0001829126-25-008609
Chunk: 288

Company: Pelican Acquisition Corp
Filing Date: 2025-10-30
Form: S-4
Chunk 288
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 PubCo Board will also be apprised of particular risk management matters in connection with its general oversight and approval of corporate matters and significant transactions.

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Compensation Committee Interlocks and Insider Participation

None of the expected members of the PubCo Compensation Committee has ever been an executive officer or employee of PubCo. None of PubCo’s expected executive officers currently serves, or has served during the last completed fiscal year, on the PubCo Board or compensation committee (or other committee performing equivalent functions) of any entity that has one or more executive officers expected to serve on the PubCo Board or Compensation Committee.

Code of Business Conduct and Ethics

Upon the Closing, PubCo will adopt a written code of business conduct and ethics that will apply to its directors, officers and employees, including its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of the code will be posted on its website, [●]. In addition, PubCo intends to post on its website all disclosures that are required by Law or the Nasdaq rules concerning any amendments to, or waivers from, any provision of the code. The information on any of PubCo’s websites is deemed not to be incorporated in this proxy statement/prospectus or to be part of this proxy statement/prospectus.

Non-Employee Director Compensation

PubCo expects to adopt a non-employee director compensation policy in connection with the Closing. A description of that policy can be found in “ Executive and Director Compensation of PubCo—Post-Business Combination Director Compensation.”

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<div align='center'>BENEFICIAL OWNERSHIP OF SECURITIES</div>

The following table sets forth information known to SPAC regarding (i) the beneficial ownership of SPAC Ordinary Shares as of June 30, 2025 (pre-Business Combination) and (ii) the expected beneficial ownership following the Closing (post-Business Combination) of PubCo Common Stock (assuming a No Redemption Scenario, a 50% Redemption Scenario and a Maximum Redemption Scenario as described below) by:

| ● | each of SPAC’s current executive officers and directors, and all executive officers and directors of SPAC as a group, in each case pre-Business Combination; |

| ● | each person who will become a named executive officer or director of PubCo, and all executive officers and directors of PubCo as a group, in each case post-Business Combination; |

| ● | each