Company: CENN
Filing Date: 2025-06-27
Form Type: DEF 14A
Source: 0001140361-25-023970
Chunk: 35

Company: Cenntro Inc.
Filing Date: 2025-06-27
Form: DEF 14A
Chunk 35
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401(k) contributions to participants in the 401(k) plan, including our named executive officers. Annual Cash Bonuses None of Cenntro’s executive officers were eligible to receive a cash bonus for the year ended December 31, 2024. Equity Incentive Awards Cenntro has historically granted stock options to its employees, including its executive officers. On February 27, 2024 (the “ Implementation Date”), the redomiciliation of Cenntro Electric Group Limited, a public company incorporated under the laws of Australia (“ CEGL”) was completed pursuant to a statutory scheme of arrangement under Australian law (the “ Scheme”) and in accordance with the scheme implementation agreement between CEGL and the Company. On the Implementation Date, and pursuant to the Scheme, the Company assumed CEGL’s obligations with respect to the settlement of stock options that were issued by CEGL prior to the Implementation Date pursuant to CEGL’s amended and restated 2016 incentive stock option plan and 2022 stock incentive plan (the “ Share Option Plans”) by way adoption of a new incentive plan, the Company’s 2023 equity incentive plan (the “ 2023 Plan”). Following the Implementation Date, no new options were issued under the Share Option Plans. The Company has assumed CEGL’s obligations with respect to the settlement of incentive options that were previously issued by CEGL under the 2023 Plan. Cenntro Inc. 2023 Equity Incentive Plan On the Implementation Date, in connection with the Redomicile, the Board adopted the 2023 Plan, which became effective on that date. The following is a description of the material terms of the 2023 Plan. The summary below does not contain a complete description of all provisions of the 2023 Plan and is qualified in its entirety by reference to the 2023 Plan, a copy of which was filed as Exhibit 10.1 to our Current Report on Form 8-K12-B, filed with the SEC on February 27, 2024, and is incorporated herein by reference. Share Awards. The 2023 Plan provides for the grant of incentive stock options (“ISOs”), nonstatutory stock options (“NSOs”), restricted share awards, share unit awards, share appreciation rights, cash-based awards, and performance-based share awards, or collectively, share awards. ISOs may be granted only to our employees, including officers, and the employees of our subsidiaries. All other share awards may be granted to our employees, officers,