Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 453

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 453
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 of its licensing agreement. Build IP, LLC became a subsidiary of BOXABL on June 15, 2023, and the licensing agreement is now void. |

| (2) | Composed of $0 and $49,000 in 2024 and 2023, respectively, for costs for security equipment and installation for the Co-Chief Executive Officer and his family to address safety concerns due to specific threats arising directly as a result of his position with BOXABL, and $7,000 and $9,000 in 2024 and 2023, respectively, for costs related to use of BOXABL’s vehicle. |

| (3) | Reflects compensation to Mr. Costas during 2024 and 2023, which employment commenced October 2, 2023. For a complete description of his employment agreement, see Employment Agreements with Key Executives. |

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| (4) | Represents the aggregate grant date fair value of 12,500,000 and 7,142,857 Restricted Stock Units (“RSUs”), granted in 2024 and 2023, respectively, computed in accordance with FASB ASC Topic 718. This amount does not reflect the actual economic value realized by the named executive officer. For additional information see the table Outstanding Equity Awards at Fiscal Year End (below). |

Principal Elements of Compensation The compensation of BOXABL’s executive officers comprises of the following major elements: (a) base salary; (b) an annual, discretionary cash bonus; (c) long-term equity incentives, consisting of stock options, restricted stock awards, performance compensation awards and/or other applicable awards granted under BOXABL’s equity incentive plan (the “ Equity Incentive Plan”) and any other equity plan that may be approved by the Board from time to time, and (d) perquisites. These principal elements of compensation are described below. Base Salaries Base salary is provided as a fixed source of compensation for our executive officers. Adjustments to base salaries will be reviewed annually and as warranted throughout the year to reflect promotions or other changes in the scope of breadth of an executive officer’s role or responsibilities, as well as to maintain market competitiveness. Annual Bonuses Annual bonuses may be awarded based on qualitative and quantitative performance standards and will reward the performance of our executive officers individually. The determination of an executive officer’s performance may vary from year to year depending on economic conditions and conditions in the housing industry and may be based on measures such as stock price performance, the meeting of financial targets