Company: IXHL
Filing Date: 2025-10-27
Form Type: DEF 14A
Source: 0001213900-25-102654
Chunk: 30

Company: Incannex Healthcare Inc.
Filing Date: 2025-10-27
Form: DEF 14A
Chunk 30
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 directors, and any delegate of the Committee will be final and binding on all persons and will be given the maximum possible deference permitted by law. Limitation on Awards and Shares Available.The maximum number of shares of common stock initially available for issuance under the 2023 Plan was 5,500,000 shares (the “Share Reserve”). In no event shall the maximum aggregate number of shares of common stock that may be issued under the 2023 Plan pursuant to incentive stock options (“ISOs”) exceed the Share Reserve. Pursuant to the Plan Amendment, the Share Reserve was increased to 7,700,00 shares on May 27, 2025 and to 77,241,101 shares on September 30, 2025. The Share Reserve is subject to further adjustment as provided in the 2023 Plan. The 2023 Plan contains an “evergreen provision” which provides that the number of shares authorized for issuance of awards under the 2023 Plan will increase on the first day of each fiscal year of the Company (each, a “Fiscal Year”) beginning with the 2026 Fiscal Year commencing on July 1, 2026 and ending on (and including) the first day of the 2032 Fiscal Year commencing on July 1, 2032, in an amount equal to 5% of the then-outstanding shares of common stock on such dates (each, an “Evergreen Increase”); provided, however, that our board of directors may act to provide that there will be no Evergreen Increase for a Fiscal Year, or that the Evergreen Increase for such Fiscal Year will be a lesser number of shares of common stock. The maximum number of Shares that may be granted under the 2023 Plan during any single fiscal year to a non-employee director, when taken together with any cash fees paid to such non-employee director during such year in respect of his or her service as a non-employee director (including service as a member or chair of any committee of the board of directors), shall not exceed US$750,000 in total value (calculating the value of any such Awards based on the grant date fair value of such Awards for financial reporting purposes). In the event there is a specified type of change in our capital structure, such as a stock split, reverse stock split, or recapitalization, appropriate adjustments will be made to (i) the class and maximum number of shares of our common stock reserved for issuance under the 2023 Plan and