Company: DARE
Filing Date: 2025-04-24
Form Type: DEF 14A
Source: 0001401914-25-000014
Chunk: 60

Company: Dare Bioscience, Inc.
Filing Date: 2025-04-24
Form: DEF 14A
Chunk 60
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 The 2022 Plan allows us to make grants of stock options, restricted stock awards, stock appreciation rights and other stock-based awards to employees, consultants, officers and directors who are in a position to make a significant contribution to our long-term success. All our employees, consultants, advisors, officers and directors are eligible to participate in the 2022 Plan. As of the record date for the Annual Meeting, approximately 24 employees (including two executive officers) and five non-employee directors are eligible to participate in the 2022 Plan.

Shares Available for Issuance . The total number of shares of our common stock reserved for issuance under the 2022 Plan as of the record date for the Annual Meeting is 1,349,085, which is the sum of:

(a) 226,975 shares available for awards that may be granted under the 2022 Plan, plus

(b) 728,543 shares underlying awards granted under the 2022 Plan, plus

(c) 393,567 shares underlying awards granted under the 2014 Plan, which if they expire, terminate or are otherwise forfeited will become available for issuance under the 2022 Plan.

Generally, shares of common stock reserved for awards granted under the 2022 Plan that lapse or are canceled (other than by exercise) will be added back to the share reserve available for future awards. However, shares of common stock tendered in payment for an award or shares of common stock withheld for taxes are not available again for future awards. Substitute awards may be issued under the 2022 Plan in assumption of or substitution for or exchange for awards previously granted by an entity which we (or an affiliate) acquire and such substitute awards shall not count against the share grant limits.

In no event shall awards granted under the 2022 Plan to any non-employee director, in any calendar year, exceed an aggregate grant date fair value of $500,000, except that the foregoing limitation shall not apply to awards granted (i) pursuant to an election by a non-employee director to receive the award in lieu of cash for all or a portion of cash fees to be received for service on our Board or any committee, or (ii) in connection with a non-employee director initially joining our Board.

Stock Options . Stock options granted under the 2022 Plan may either be incentive stock options, which are intended to satisfy the requirements of Section 422 of the Code, or non-statutory stock options, which are not intended to meet those requirements. In