Company: LRHC
Filing Date: 2025-05-29
Form Type: 10-Q
Source: 0001213900-25-048370
Chunk: 47

Company: La Rosa Holdings Corp.
Filing Date: 2025-05-29
Form: 10-Q
Item: Item 1
Chunk 47
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 the stockholders of the Company.

Third Amended Agent Plan

On February 4, 2025, the Compensation Committee,
our Board of Directors, and the majority stockholders approved the Third Amended and Restated La Rosa Holdings 2022 Agent Incentive Plan
(“Third Amended Agent Plan”), which became effective on March 28, 2025. 

The Third Amended Agent Plan revised the vesting
terms of the grants under Agent Equity Program and added new terms allowing the participants to authorize the Company to set aside 5%
of their agent net commissions on transactions in their name to purchase shares of the common stock at a 20% discount from the prior 30
day volume weighted average closing price of the common stock on Nasdaq.

Certain
Future Corporate Actions 

On February 4, 2025, our Board of Directors, and
the majority stockholders approved the amendment (the “Reverse Stock Split Amendment”) to the Amended and Restated Articles
of Incorporation of the Company to provide for a reverse stock split (the “Reverse Stock Split”) of the common stock of the
Company at a ratio ranging from one for two (1:2) to one for one hundred (1:100) (the “Split Ratio Range”), the final determination
of which shall be made by the Board of Directors, and the authorization to the Board of Directors to effect the Reverse Stock Split at
their discretion. As of the date hereof, the Reverse Stock Split was not effected by the Company.

On February 4, 2025, our Board of Directors,
and the majority stockholders approved the Certificate of Amendment to the Company’s Amended and Restated Articles of Incorporation
to increase the number of the Company’s authorized shares of common stock to two billion (2,000,000,000) shares of common stock,
and to restate Sections 3.01 and 3.02 thereof to reflect such increase. As of the date hereof, the Certificate of Amendment was not effected
by the Company.

26

Change in Controlled Company Status

As of December 31, 2024, the Company qualified
as a “controlled company” because more than 50% of the voting power for the election of directors was held by Joseph La Rosa,
our Chief Executive Officer and Chairman. As a result of certain sales under the Company’s previously announced at-the-market offering,
as of April 16, 2025 Mr. La Rosa no longer holds more