Company: KITTW
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001849820-25-000120
Chunk: 28

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 28
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 more shares are needed to provide the value needed to recruit and retain key employees and management. The ability to use shares to compensate our employees and executives allows us to preserve cash while still retaining talent necessary for our business.

#### Description of the Plan
The following summary of the material features of the Plan is qualified in its entirety by reference to the full text of the Plan, which is incorporated herein by reference to Annex A to this Proxy Statement.

Administration

The Plan is administered by the Board of Directors and the Compensation Committee of the Board (the “Administrator”). The Administrator has the power and authority to:

• determine eligible recipients, whether options, stock appreciation rights, restricted shares, restricted stock units, other share-based awards, other cash-based awards or a combination of the foregoing are granted to participants;

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• determine the terms and conditions of each award granted, consistent with the Plan;

• determine the terms and conditions of award agreement evidencing the awards;

• determine fair market value of awards

• determine duration and purpose of leaves of absence before termination of employment for purposes of awards;

• adopt, alter and repeal administrative rules, guidelines and practices governing the Plan;

• reconcile any inconsistency in, correct any defect in, and/or supply any omission in the Plan or award agreement related to the Plan;

• construe and interpret the terms and provisions of the Plan and any award issued under the Plan.

Shares Reserved For Issuance

The Administrator was authorized to deliver an aggregate of 8,096,209 shares (calculated on shares prior to the reverse stock split on July 18, 2024) under the Plan as of the original date of the Plan. The total number of shares authorized for issuance under the Plan was increased to 25,000,000 shares (calculated on shares prior to the reverse stock split on July 18, 2024), which was adjusted to 694,445 shares following the reverse stock split. The total number of shares reserved and that may be issued automatically increases on the first trading day of each calendar year by 3% of the total number of outstanding common stock on the last day of the prior calendar year. The number of reserved shares has thus increased to 987,301 as of April 11, 2025. The maximum number of shares during any fiscal year to any non-employee director, taken together with any cash fees paid to such director, shall not exceed $500,000 of value. Shares subject to an award that are forfeited,