Company: BFRG
Filing Date: 2025-09-16
Form Type: PRE 14A
Source: 0001493152-25-013736
Chunk: 30

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-09-16
Form: PRE 14A
Chunk 30
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 is to assist us in attracting, motivating, retaining and rewarding high-quality executives and other employees, officers, directors, consultants and other persons who provide services to us and our subsidiaries and affiliates. We are proposing to amend the Plan as described in this proposal. The Plan is intended to enable those persons to acquire or increase an ownership interest in us in order to strengthen the mutuality of interests between them and our stockholders, and to provide those such persons with performance incentives to expend their maximum efforts in the creation of stockholder value.

Change Proposed to be made to the Plan and Reasons for the Change

The change to the Plan proposed for stockholder approval is an increase in the number of shares available for existing and future awards under the Plan by 750,000 to a total of 809,348 shares of common stock. All of the share numbers in this proposal are prior to the Reverse Stock Split proposed in Proposal No. 2.

As of August 27, 2025, without the increase approved by the Board on that date, 1,366,970 shares of common stock were authorized for issuance under the Plan (which amount includes 900,000 shares that were originally authorized for issuance under the Plan and 466,970 shares that became authorized for issuance under the Plan pursuant to the Plan’s evergreen provision), of which 59,348 shares remain available for future issuance. With the 750,000 shares we are requesting to add to the Plan, the total number of shares subject to existing awards or available for future awards of 809,348 shares is approximately 7.90% of the 10,249,805 outstanding shares as of the Record Date.

In order to continue to provide the appropriate equity incentives to plan participants in the future, on August 27, 2025, the Board approved, subject to stockholder approval at this Special Meeting, an amendment to the Plan to increase the number of shares of common stock reserved for issuance under the Plan by 750,000 shares from 1,366,970 shares to 2,116,970 shares.

In requesting this share increase under the Plan, the Company is specifically retaining Section 4.6 of the Plan which provides for an “evergreen” increase in the number of shares under the Plan by 15% of the outstanding equity on January 1 of each year, but is not extending the term of the Plan beyond the original ten years. In the future, if the Company desires to retain the “evergreen” provision past the ten-year