Company: BGLC
Filing Date: 2025-08-18
Form Type: 10-Q
Source: 0001477932-25-006023
Chunk: 107

Company: BioNexus Gene Lab Corp
Filing Date: 2025-08-18
Form: 10-Q
Item: Part I, Item 3
Chunk 107
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 service. Unvested Tranches B/C/D remain eligible to vest for up to 24 months following a termination other than for cause if the price hurdles are later met (subject to a customary release and transition cooperation). All unvested CEO options accelerate immediately prior to a qualifying change in control.

CFO Option Awards. The Board approved three annual non-qualified stock option grants of 30,000 options each for 2025, 2026, and 2027 with exercise prices of $6.00, $10.00 and $15.00, respectively, with the first instalment vesting on the grant date, and each subsequent instalment on the first anniversary of the applicable grant date, subject to continued service. Unvested awards accelerate upon a qualifying change in control.

Director Option Awards. Each independent director will receive three annual grants of 30,000 options for 2025, 2026, and 2027 with exercise prices of $6.00, $10.00 and $15.00, respectively, 10-year terms, with the first instalment vesting on the grant date, and each subsequent instalment on the first anniversary of the applicable grant date, subject to continued service. Unvested awards accelerate upon a qualifying change in control.

Key Person Option Awards. Each of two key employees of MRNA Scientific will receive three annual grants of 20,000 options for 2025, 2026, and 2027 with exercise prices of $6.00, $10.00 and $15.00, respectively, 10-year terms,  with the first instalment vesting on the grant date, and each subsequent instalment on the first anniversary of the applicable grant date, subject to continued service. Unvested awards accelerate upon a qualifying change in control.

The Board also approved a Form of Non-Qualified Stock Option Agreement for use with the awards that is filed with this report as Exhibit 10.8.

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Item 6. Exhibits.

Exhibit Description   31.1 Certification of the Company’s Principal Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002*   31.2 Certification of the Company’s Principal Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934,