Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 967

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 967
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 on December 1, 2027, in each case subject
    to the reporting person remaining in the service of the Company on each such vesting date.

    (10)
    Includes
    116,473 restricted stock awards representing shares of Common Stock, which will vest 100% upon the reporting person’s separation
    from the Company.

    (11)
    Includes
    116,473 restricted stock awards representing shares of Common Stock, which will vest 100% upon the reporting person’s separation
    from the Company.

    (12)
    Includes
    600 shares of Common Stock issuable to Mr. Michaels upon exercise of stock options exercisable within 60 days of March 20, 2025.
    Includes 136,222 restricted stock awards representing shares of Common Stock, which will vest 100% upon the reporting person’s
    separation from the Company.

    (13)
    Includes
warrants to purchase 60,000 shares of Common Stock that are exercisable within 60 days of March 20, 2025, warrants to purchase 140,000
shares of Common Stock that are exercisable within 60 days of March 20, 2025, and 1,250,000 shares of Common Stock underlying 62,500
shares of Series B Preferred Stock which are subject to a 4.99% beneficial ownership blocker and may be converted within 60 days of March
20, 2025. The number of shares listed in the first column assumes the full conversion of the shares of Series B Preferred Stock without
regard to any limitations on exercise, but the percentage set forth in the second column is limited by the 4.99% beneficial ownership
blocker.

77

Item
13. Certain Relationships and Related Transactions, and Director Independence 

The
following is a description of transactions since January 1, 2023, and each currently proposed transaction in which:

  ●
  We have been or are to be a participant;

  ●
  the amount involved exceeded or will exceed the lesser of $120,000 or 1% of our total assets at year-end for our last two completed fiscal
years; and

  ●
  any of our directors, executive officers or beneficial owners of more than 5% of our capital stock, or any immediate family member of,
or person sharing the household with, any of these individuals or entities, had or will have a direct or indirect material interest, other
than