Company: BNBX
Filing Date: 2025-04-15
Form Type: DEF 14A
Source: 0001104659-25-034898
Chunk: 45

Company: BNB PLUS CORP.
Filing Date: 2025-04-15
Form: DEF 14A
Chunk 45
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 have to increase cash-based compensation incentives, which could work against our current philosophy of aligning the interests of our personnel with the interests of our stockholders. This course of action could also be a distraction for our management team and employees because it would disrupt the normal and scheduled operations of our compensation programs and restrict their ability to utilize equity grants to retain and motivate our employees and other key talent. Historically, our ability to offer competitive equity compensation packages was integral to hiring and retaining key performers who are instrumental in the operations of the Company. For these reasons, we believe it is critically important to approve the Plan Amendment at this time to ensure we have a sufficient number of shares authorized for issuance under the Amended Plan. Reasons for the Plan Amendment We are proposing to implement the Plan Amendment to motivate and retain key employees and to reinforce the alignment of our employees’ interests with those of our shareholders at this critical time as we focus on building our new business focusing on the manufacturing of DNA for biotherapeutic applications. The number of shares available for issuance under our Current Plan has been significantly decreased due to the Previous Reverse Stock Splits. Considering this fact, our ability to grant equity-based compensation to our employees as a form of pay-for-performance long-term incentives has been greatly diminished, resulting in no equity-based compensation being issued to any employee in Fiscal 2024. The shares available for issuance under our Current Plan would also be impacted by any potential future reverse stock splits. Over the past twelve months we have undertaken a number of actions to transform and reinvigorate our business and improve our performance, such as divesting certain operations, realigning our segments and installing new segment management and building our first GMP facility to support our DNA manufacturing for biotherapeutic applications. We have also responded to the most recent conditions by implementing significant cost reduction programs, and reducing the size of our workforce. Equity compensation under the Current Plan is offered to our employees in order to emphasize pay-for-performance in long-term incentives and to more closely align our employees’ interests with our shareholders’ interests. We believe that it is critical to our success to retain and motivate key employees throughout our operations and particularly important as we focus on our new business opportunity relating to the manufacture of DNA for biotherapeutic applications. History of the Current Plan On June 30, 2020, our Compensation Committee recommended that our Board approve the Current Plan and submit the Current Plan to a vote of our stockholders. On June 30, 2020, our Board approved the Current Plan, subject to stock