Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 201

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 201
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 may delegate to one or more officers of Zoomcar, the authority to grant awards to individuals who are not subject to the reporting and other provisions of Section 16 of the Exchange Act. Share Reserve The number of shares of Common Stock that may be issued under the Incentive Plan is currently 222,158 shares. At our Special Meeting of Stockholders on February 18, 2025, our stockholders approved a one-time increase in the number of shares of Common Stock available for issuance under the Incentive Plan in an amount equal to 15% of the number of our shares of Common Stock issued and outstanding on March 31, 2025, to become effective on such date. All of the shares initially available under the Incentive Plan may be issued upon the exercise of incentive stock options. The number of shares available for issuance under the Incentive Plan also includes an automatic annual increase, or the evergreen feature, on the first day of each calendar year, and ceasing as described below, equal to the lesser of:

| ● | a number of shares of Common Stock                                                                                                           
 equal to 3% of the aggregate number of shares of Common Stock issued and outstanding as of December 31 of the immediately preceding calendar 
 year; or                                                                                                                                     |

| ● | such number of shares of Common                
 Stock as the plan administrator may determine. |

Shares issuable under the Incentive Plan may be authorized, but unissued, or reacquired shares of Common Stock. Shares underlying any awards under the Incentive Plan that are forfeited, cancelled, held back upon exercise of an option or settlement of an award to cover the exercise price or tax withholding satisfied without the issuance of stock or otherwise terminated (other than by exercise) will be added back to the shares available for issuance under the Incentive Plan and, to the extent permitted under Section 422 of the Code and the regulations promulgated thereunder, the shares that may be issued as incentive stock options. 123 Annual Limitation on Awards to Non-Employee Directors The Incentive Plan contains a limitation whereby the value of all awards under the Incentive Plan and all other cash compensation paid by Zoomcar to any non-employee director may not exceed $750,000 for the first calendar year a non-employee director is initially appointed to the Zoomcar Board, and $500,000 in any other calendar year. Types of Awards The Incentive Plan provides for the grant of stock options, stock appreciation rights, restricted stock,