Company: HSDTW
Filing Date: 2025-10-14
Form Type: DEF 14A
Source: 0001104659-25-098889
Chunk: 46

Company: Solana Co
Filing Date: 2025-10-14
Form: DEF 14A
Chunk 46
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 extent unvested upon expiration. Summer is controlled by Mr. Chee, who was named Executive Chairman of the Board following the closing of the offerings. In addition, upon the Closing, Mr. Chee and the Company entered into an executive chairman agreement (the “ Executive Chairman Agreement ”) dated September 18, 2025. Pursuant to the terms of the Executive Chairman Agreement, Mr. Chee received an equity award of restricted stock units (“ RSUs ”) equal to (i) 1% of the aggregate number of Common Stock and pre-funded warrants issued in the Offerings, plus (ii) 0.5% of the aggregate number of Common Stock underlying the stapled warrants issued in connection with the offerings for his services related to the implementation of the digital asset treasury for the Company. This amount was determined to be 1,109,118 RSUs. Further, following the closing of the Offerings and within 10 business days of the exercise of a Cash Stapled Warrant issued to investors in the Offerings, the Company shall issue to Mr. Chee an additional RSU award equal to 0.5% of the number of shares of the Company’s Common Stock issuable upon the exercise of the Cash Stapled Warrants. The vesting of each such RSU grants shall be subject to stockholder approval of the increase in the shares available under the Company’s 2022 Equity Incentive Plan, as described in Proposal 4. 27 TABLE OF CONTENTS PROPOSAL 2 APPROVAL OF THE EXERCISE OF THE STRATEGIC ADVISOR WARRANTS We are asking stockholder approval, as required by Nasdaq Listing Rule 5635(a), of the issuance of shares of our Common Stock underlying the currently outstanding Strategic Advisor Warrants issued to Pantera Capital Management LP and Summer Wisdom Holdings Limited. Terms of the Strategic Advisor Agreement and Strategic Advisor Warrant Agreement On September 15, 2025, the Company entered into a Strategic Advisor Agreement (the “ Strategic Advisor Agreement ”) with Pantera Capital Management LP, a Delaware limited partnership (“ Pantera ”) and Summer Wisdom Holdings Limited (“ Summer ” and with Pantera, the “ Advisors ”), pursuant to which the Company engaged each of Pantera and Summer to provide strategic advice and guidance relating to the Company’s business, operations, growth initiatives and industry trends in the crypto technology sector for an initial term of two (2) years, which term automatically renews for successive periods of one (1) year each.