Company: NDRA
Filing Date: 2025-10-17
Form Type: PRE 14A
Source: 0001654954-25-011931
Chunk: 48

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-10-17
Form: PRE 14A
Chunk 48
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on a fully-diluted basis) immediately after our initial public offering. In 2018, the Board and stockholders of the Company approved an amendment to the 2016 Plan, providing for an automatic annual increase to the pool of shares available for issuance each January 1 beginning in 2019 by an amount equal to the lesser of (i) the number of shares necessary such that the aggregate number of shares available under the plan equals 25% of the number of fully-diluted outstanding shares on the increase date and (ii) if the Board takes action to set a lower amount, the amount determined by the Board.

2016 Plan awards may take the form of incentive stock options (“ISOs”), nonqualified stock options (“NSOs”), stock appreciation rights (“SARs”), restricted stock, RSUs, performance awards, and other cash- or stock-based awards.

We are asking stockholders to approve a second amendment to the 2016 Plan (the “2016 Plan Amendment”), which would increase the pool of shares available for issuance by 3,200,000 shares of common stock and would enable us to, among other things, issue shares upon exercise of options to members of the Board’s Cryptocurrency Advisory Board. The 2016 Plan is scheduled to expire on November 14, 2026. We expect to ask our stockholders for approval of a new equity plan in 2026.

The Board believes that the 2016 Plan is an important part of the Company’s compensation philosophy and programs. Our ability to attract, retain, and motivate qualified officers, non-employee directors, employees, consultants, and advisors is important to our success. The Board believes that the interests of the Company and its stockholders will be advanced if we can continue to offer our officers, non-employee directors, key employees, consultants, and advisors the opportunity to acquire or increase a direct proprietary interest in the Company. In connection with its continuous evaluation of the Company’s compensation program, the Board has determined that it is in the best interest of the Company to approve, subject to further stockholder approval, the 2016 Plan Amendment.

The following table provides certain information regarding our outstanding equity awards and the 2016 Plan (with performance-based awards included at the “maximum” level) as of the record date. As of the record date, there were 1,166,441 shares of our common stock outstanding. The closing price of our common stock as reported on Nasdaq on the record date was $7.00 per