Company: BNBX
Filing Date: 2025-11-10
Form Type: DEF 14A
Source: 0001104659-25-109257
Chunk: 22

Company: BNB PLUS CORP.
Filing Date: 2025-11-10
Form: DEF 14A
Chunk 22
---
”). On September 28, 2025, our Board approved the Plan Amendment, subject to stockholder approval, and directed that the Amended Plan be submitted to our stockholders for their approval at the Special Meeting. The Amended Plan does not contain any modifications, alterations or revisions of any other term or provision of our Current Plan except with respect to the increase in the share reserve. As of October 31, 2025 and as a result of the Previous Reverse Stock Splits we had only 377 shares of Common Stock (the “Current Share Pool”) that remained available for issuance under the Current Plan. If Proposal No. 3 is approved, the Plan Amendment will become effective with respect to the increase in the number of authorized shares of Common Stock reserved for issuance upon stockholder approval at this Special Meeting. Without approval by stockholders of the Plan Amendment, the Company will be unable to continue to grant equity awards once the share pool is depleted, potentially resulting in the loss of employees and difficulties in recruiting new employees. The Company did not grant any equity awards under the Current Plan during the fiscal year ended September 30, 2025 due to the small number of shares of Common Stock available under the Current Plan. During October 2025, the Company granted 199,928 RSUs to Officers, certain employees and the Board of Directors. These RSUs vest 90 days from the date of grant. If the Plan Amendment Proposal is not approved, the Company will become increasingly reliant on cash-based compensation, which will deplete the Company’s finite cash resources. Accordingly, our Board recommends the approval of the Plan Amendment. We recognize the dilutive impact that our equity compensation program has on our stockholders and continuously strive to balance this concern with the competition for talent in the competitive business environment and talent market, as well as the current market conditions, in which we operate. In determining the appropriate number of shares to request and add to the pool of shares available for issuance, our Board worked with management to evaluate a number of factors and carefully considered (i) the potential dilutive impact that the increase would have on our stockholders, (ii) the number of shares remaining available under the Current Plan, (iii) equity awards are a key component of designing competitive compensation packages, which are necessary for attracting and retaining key talent and directors in a competitive digital asset industry, and are therefore critical to our success, (iv) our strategic growth plans for our BNB Strategy, and (v) the interests of our stockholders. As part