Company: MVNC
Filing Date: 2025-04-25
Form Type: 10-K
Source: 0001683168-25-002807
Chunk: 9

Company: Marvion Inc.
Filing Date: 2025-04-25
Form: 10-K
Item: Item 12
Chunk 9
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 restrictions. If a Section 83(b) election is made, the capital gain/loss holding period for such shares commences on the
date of the award. Any further change in the value of the shares will be taxed as a capital gain or loss only if and when the shares are
disposed of by the recipient. If the recipient does not make a Section 83(b) election, the fair market value of the shares on the date
the restrictions lapse will be treated as compensation income to the recipient and will be taxable in the year the restrictions lapse,
and the capital gain/ loss holding period for such shares will also commence on such date.

 54 

Restricted Stock Units.
No income generally will be recognized upon the award of RSUs. The recipient of an RSU generally will be subject to tax at ordinary income
rates on the market price of unrestricted shares on the date that such shares are transferred to the participant under the award (reduced
by any amount paid, if any, by the participant for such RSUs), and the capital gain/loss holding period for such shares will also commence
on such date.

New Plan Benefits

Awards under the Plan are
within the discretion of the Administrator. As a result, the benefits that will be awarded under the Plan, including to our non-employee
directors, are not determinable at this time.

Existing Plan Benefits
to Named Executive Officers and Others

The following table summarizes
the grants made to our named executive officers (as identified under “Executive Compensation”, below), all current executive
officers as a group, all current non-executive directors as a group and all current non-executive employees as a group, from the inception
of the Plan through December 31, 2024. The closing price per share of our common stock on December 31, 2024 was $0.0161.

    Name and Position(1) 
    RSA Granted Since Adoption of the Plan 
  
    Chan Sze Yu, Chief Executive Officer,
    Chief Financial Officer, Secretary and Director 

    Man Chung CHAN, Former Chief
    Executive Officer, Chief Financial Officer, Secretary and Director (1) 
     – 
  
    Tee Soo TAN, Former Director (2) 
     – 
  
    All current executive officers and directors (1 person) 
     – 
  
    All employees, including all officers who are
    not executive officers, as a group (47 persons)(3