Company: NEOV
Filing Date: 2025-10-28
Form Type: DEF 14A
Source: 0001683168-25-007811
Chunk: 26

Company: NeoVolta Inc.
Filing Date: 2025-10-28
Form: DEF 14A
Chunk 26
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 participant
under any outstanding award in any material way without the written consent of the participant, unless such amendment is required by applicable
law, regulation or rule of any stock exchange on which the shares are listed.

Notwithstanding the foregoing,
neither the 2019 Plan nor any outstanding award agreement can be amended in a way that results in the repricing of a stock option. Repricing
is broadly defined to include reducing the exercise price of a stock option or stock appreciation right or cancelling a stock option or
stock appreciation right in exchange for cash, other stock options or stock appreciation rights with a lower exercise price or other stock
awards. (This prohibition on repricing without stockholder approval does not apply in case of an equitable adjustment to the awards to
reflect changes in the capital structure of the company or similar events.)

No awards may be granted under
the 2019 Plan on or after the tenth anniversary of the initial effective date of the 2019 Plan.

Outstanding Equity Awards

The following table sets forth certain information
concerning our outstanding equity awards for our named executive officers on June 30, 2025.

<div align='center'>Outstanding Equity Awards at Fiscal Year-End - 2025</div>

| Name           |     | Number of shares or units of stock that have not vested (#) |     | Market value of shares of units of stock that have not vested ($) |           |     | Equity incentive plan awards: Number of unearned shares, units or other rights that have not vested (#) |   |     | Equity incentive plan awards: Market or payout value of unearned shares, units or other rights that have not vested ($) (1) |   |
| Ardes Johnson  |     | 960,000 (2)                                                 |     |                                                                   | 3,168,000 |     |                                                                                                         | – |     |                                                                                                                             | – |
| Steve Bond     |     | 240,000 (3)                                                 |     |                                                                   |   792,000 |     |                                                                                                         | – |     |                                                                                                                             | – |
| Michael Mendik |     | 150,000 (3)                                                 |     |                                                                   |   495,000 |     |                                                                                                         | – |     |                                                                                                                             | – |

| (1) | Based on the closing price of the Company’s common stock on June 30, 2025, of $3.30 per share.                                       |
| (2) | Consists of