Company: ARBK
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001104659-25-049311
Chunk: 49

Company: Argo Blockchain Plc
Filing Date: 2025-05-15
Form: 20-F
Item: Item 4A
Chunk 49
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. Equity Incentive Plan (the“U. S. Plan”).

The 2022 Plan

Our board of directors adopted the 2022 Plan effective as of June 29, 2022, the date on which the 2022 Plan was approved by the Company’s shareholders. The 2022 Plan was amended and restated effective as of March 7, 2023.

Eligibility, Awards and Administration

Employees, including executive directors of the Company and its subsidiaries are eligible to participate in the 2022 Plan. Under the 2022 Plan, our board of directors may grant non-qualified stock option awards, share appreciation rights, restricted share awards, restricted share unit awards, performance and other share awards in order to align the interests of our shareholders and the recipients of awards, to advance our interests by attracting and retaining executive directors, officers and other employees and to motivate such persons to act in the long-term best interests of the Company and its shareholders. Grants under the 2022 Plan are subject to an overall limit and an individual limit. The overall limit applies, and an award may not be granted, if such grant would result in the total number of“dilutive shares”issued or subject to outstanding awards exceeding 10% of the Company’s issued share capital during the shorter of the ten years ending on and including the relevant date and the period of time since June 29, 2022, the adoption date of the 2022 Plan. The individual limit generally provides that, other than in exceptional circumstances, the fair market value of ordinary shares subject to stock option awards made to an executive director during any year may not exceed 300% of such individual’s salary or annual fee income. The 2022 Plan is currently administered by the Remuneration Committee of our board of directors and the Remuneration Committee may delegate its administrative authority under the plan to a subcommittee. The authority of the Remuneration Committee includes, among other things, the authority to make and amend rules and regulations for the administration of the 2022 Plan.

Vesting, Exercise and Clawback

The vesting schedule for each award granted under the 2022 Plan is set forth in the applicable award agreement. For any award granted to an Executive Director of the Company, vesting of the award must be subject to achievement of pre-set performance metrics assessed over a period of at least one year.

Awards under the 2022 Plan and any cash payment or shares delivered pursuant to such an award are subject to