Company: SUNE
Filing Date: 2025-11-24
Form Type: DEF 14A
Source: 0001140361-25-042993
Chunk: 41

Company: SUNation Energy, Inc.
Filing Date: 2025-11-24
Form: DEF 14A
Chunk 41
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 The 2022 Equity Incentive Plan does not provide for “reload” or other automatic grants to participants. |

| • | No Tax Gross-ups. The 2022 Equity Incentive Plan does not provide for any tax gross-ups. |

| • | Limits on Dividends and Dividend Equivalents. The 2022 Equity Incentive Plan prohibits the payment of dividend equivalents on stock options and SARs, and requires that any dividends and dividend equivalents payable or credited on unvested awards other than options and SARs (“full value awards”) must be subject to the same restrictions and risk of forfeiture as the shares or share equivalents to which such dividends or dividend equivalents relate. |

| • | Compensation Recovery (“Clawback”). The 2022 Equity Incentive Plan provides that all awards granted under the 2022 Equity Incentive Plan will be and remain subject to any incentive compensation or clawback or recoupment policy that may be adopted by the Board or required by applicable law. |

| • | No Automatic Acceleration of Vesting upon a Change in Control. The 2022 Equity Incentive Plan provides for double-trigger vesting of time-based equity awards or performance-based equity awards based on both (1) the occurrence of a change in control and (2) an accompanying involuntary termination of service without cause within 24 months after the change in control (unless the awards are not continued, assumed, or replaced in connection with a corporate transaction, in which case they will accelerate upon the change in control). |

| • | No Liberal Definition of “Change in Control.”No change in control would be triggered by shareholder approval of a business combination transaction, the announcement or commencement of a tender offer, or any board assessment that a change in control may be imminent. |

Description of 2022 Equity Incentive Plan The material features of the 2022 Equity Incentive Plan are summarized below. The summary is qualified in its entirety by reference to the full text of the 2022 Equity Incentive Plan, which is attached to this proxy statement as Appendix A and is marked to show the proposed Plan Amendments. Purpose of the Plan. The purpose of the 2022 Equity Incentive Plan is to assist the Company in attracting, retaining, motivating and rewarding certain key employees, officers, directors and consultants of the Company and its affiliates, promoting the creation of long-term value for the shareholders of the Company by closely aligning the interests of such individuals with those of our shareholders. The