Company: SLND-WT
Filing Date: 2025-04-03
Form Type: PRE 14A
Source: 0001558370-25-004402
Chunk: 20

Company: Southland Holdings, Inc.
Filing Date: 2025-04-03
Form: PRE 14A
Chunk 20
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 PSUs. As such, these shares were returned to the Company’s 2022 Equity Incentive Plan. Effective as of Mr. Gallarda’s resignation on March 28, 2025, his award will be forfeited and his remaining unvested shares will be returned to the 2022 Equity Incentive Plan.

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(2)Reflects the fair market value of a share as of December 31, 2024, which was determined based on the last reported closing price of our common stock on such date ($3.25) multiplied by the number of restricted stock units. (3)As Mr. Gallarda resigned, effective as of March 28, 2025, his award of 44,346 PSUs was forfeited and the remaining unvested shares were returned to the 2022 Equity Incentive Plan. Executive Employment Agreements Each of Messrs. Frank Renda, Tim Winn and Rudy Renda have entered into employment agreements with the Company (the “Employment Agreements”). The Employment Agreements generally provide for at-will employment and each executive’s annual base salary, eligibility to receive an annual cash performance bonus, eligibility to receive equity grants pursuant to the Company’s equity plans and eligibility to participate in the Company’s benefit plans. The annual base salary of each executive, and such executive’s annual cash performance bonus, are expected to be reviewed annually by the Company. Mr. Frank Renda’s Employment Agreement provides for an initial annual base salary of $750,000. Mr. Winn’s Employment Agreement provides for an initial annual base salary of $500,000. Mr. Rudy Renda’s Employment Agreement provides for an initial annual base salary of $500,000. Each executive’s Employment Agreement provides for an annual cash performance bonus that is targeted, but not guaranteed, to be between 80% and 200% of such executive’s annual base salary for that particular year. The Employment Agreements also restrict Messrs. Frank Renda, Tim Winn, and Rudy Renda’s ability to sell more than a certain percentage of his total, aggregate equity holdings in the Company or any of the Company’s affiliates during any calendar year. Each executive officer is subject to certain restrictive covenants, including but not limited to confidentiality, non-disclosure and non-solicitation covenants under his Employment Agreement. Further, the Employment Agreements provide for the following payments upon termination of an executive’s employment, including in connection with a change in control:

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