Company: LDWY
Filing Date: 2025-09-26
Form Type: PRE 14A
Source: 0001104659-25-093874
Chunk: 23

Company: LENDWAY, INC.
Filing Date: 2025-09-26
Form: PRE 14A
Chunk 23
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 - | ​ | ​    |        - |
| Addition (Subtraction): Amount equal to the difference in fair value from the end of the prior fiscal year to the vesting date of any awards granted in any prior fiscal year for which all applicable vesting conditions were satisfied at the end of or during the covered fiscal year | ​ | ​     | -8,910 | ​ | ​    |        - |
| (Subtraction): Amount equal to the fair value at the end of the prior fiscal year for any awards granted in any prior fiscal year that fail to meet the applicable vesting conditions during the covered fiscal year                                                                     | ​ | ​     |      - | ​ | ​    |        - |
| Addition: Dividends or other earnings paid on stock or option awards in the covered year prior to vesting if not otherwise included in the total compensation for the covered year                                                                                                       | ​ | ​     |      - | ​ | ​    |        - |
| Compensation Actually Paid (as calculated)                                                                                                                                                                                                                                               | ​ | $     | 44,330 | ​ | $    |  202,162 |

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PRELIMINARY PROXY STATEMENT – SUBJECT TO COMPLETION

Relationship Between Pay and Performance The charts shown below present a graphical comparison of CAP to our CEOs and the average CAP to our Other NEOs set forth in the Pay Versus Performance Table above, as compared against the following performance measures: our (1) total stockholder return (TSR) and net income (loss).

| (1) | Total stockholder return in the above chart reflects the cumulative return of $100.00 as if invested on December 31, 2021, including reinvestment of any dividends. |

15

<div align='center'>**PRELIMINARY PROXY STATEMENT – SUBJECT TO COMPLETION

PROPOSAL TWO –
NON-BINDING ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION
(“SAY ON PAY” PROPOSAL)**</div>

**At the annual meeting held in 2024, stockholders voted to continue to cast advisory, non-binding votes on executive compensation on an annual basis. Accordingly, we are requesting this non-binding advisory vote on the executive compensation paid to our Named Executive Officers. Under the Dodd-Frank Wall Street Reform and Consumer Protection Act and SEC rules, the vote of the stockholders on this resolution is a “non-binding” advisory vote. The purpose of the vote is for the stockholders