Company: ALGN
Filing Date: 2025-03-27
Form Type: PRE 14A
Source: 0001097149-25-000016
Chunk: 101

Company: ALIGN TECHNOLOGY INC
Filing Date: 2025-03-27
Form: PRE 14A
Chunk 101
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ations of a participant’s status as a service provider on or after our change in control, or a participant’s death or disability, and such accelerations will not be subject to the 5% limit described in the next sentence. Additionally, without regard to this 1‑year vesting limitation, Awards that result in issuing up to 5% of the maximum aggregate shares reserved for issuance under the Incentive Plan may be granted to employees of Align or any affiliate of Align or to non-employee Board members or otherwise may be discretionarily accelerated.

Grant Limits. No non-employee director may be granted in any fiscal year Awards (other than any Awards granted to such director while an employee of Align or its affiliates or while a consultant of Align or any parent, subsidiary or affiliate of Align but not a non-employee director) that exceed the lesser of (i) Awards covering 100,000 shares, or (ii) Awards with a grant date fair value (determined in accordance with GAAP) of greater than $1,000,000.

In any fiscal year, a participant will not receive a cash Award described in the “Other Cash or Stock Awards” section below in excess of $5,000,000.

#### Options
The exercise price per share of options granted under the Incentive Plan is determined by the Plan Administrator and must not be less than 100% of the fair market value of a share of Align’s common stock on the date of grant (except as permitted under Section 424(a) of the Internal Revenue Code). Options granted under the Incentive Plan expire as determined by the Plan Administrator, but in no event later than 7 years from date of grant. However, incentive stock options granted under the Incentive Plan to a participant owning stock representing more than 10% of the voting power of all classes of stock of Align or any parent or subsidiary of Align must have an exercise price per share no less than 110% of the fair market value of a share on the date of grant and the term of such option must be no more than 5 years from the date of grant. The fair market value of Align’s common stock generally is determined by reference to the price of Align’s common stock on the Nasdaq Stock Market on the determination date.

Options granted under the Incentive Plan become exercisable at such times and under such conditions as are determined by the Plan Administrator and as are set forth in the individual award agreements. An option is exercised by giving notice to Align specifying the number