Company: BTBT
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001013762-25-000307
Chunk: 1447

Company: Bit Digital, Inc
Filing Date: 2025-03-14
Form: 10-K
Item: Item 3
Chunk 1447
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 In January 2025, 20,000 RSUs were awarded under the 2023 Omnibus Equity Incentive
Plan with immediate vesting

As recommended by the Company’s Nominating
and Corporate Governance Committee, the Company entered into a Director Agreement with Jiashu (Bill) Xiong (“Xiong”), pursuant
to which Xiong was elected as a member of the Company’s Board of Directors, effective October 13, 2023. Mr. Xiong is receiving cash
compensation for his services on the Board equal to $4,000 a year paid on a quarterly basis. Xiong is also receiving an annual salary
of $68,000 from Bit Digital Canada, Inc., as the Company’s IT Director. While Xiong is a member of the Board and for a twelve-month
period following termination of the Director Agreement, he cannot have any connections with any business or venture that competes, directly
or indirectly, with the Company. For a period of three (3) years from termination of the Director Agreement, Xiong is prohibited from
interfering with the Company’s relationship with or seek to have any employee or customer of the Company leave the Company.

There have been no transactions in the past two
years to which the Company or any of its subsidiaries was or is to be a party, in which each independent director had, or will have, a
direct or indirect material interest.

Omnibus Equity Incentive Plans

Share-based compensation such as restricted stock
units (“RSUs”), incentive and non-statutory stock options, restricted shares, share appreciation rights and share payments
may be granted to any directors, employees and consultants of the Company or affiliated companies under 2021 Omnibus Equity Incentive
Plan (“2021 Plan”), 2021 Second Omnibus Equity Incentive Plan (“2021 Second Plan”) and 2023 Omnibus Equity Incentive
Plan (“2023 Plan”). An aggregate of 2,415,293 RSUs were granted under the 2021 Plan and no ordinary shares remain reserved
for issuance under the 2021 Plan. There are 5,000,000 ordinary shares reserved for issuance under the Company’s 2021 Second Plan,
under which 4,211,372 RSUs and 395,000 share options have been granted as of December 31, 2024. There are 5,000,000 ordinary shares reserved
for issuance under the Company’s