Company: NCL
Filing Date: 2025-07-01
Form Type: 10-K
Source: 0001575872-25-000433
Chunk: 2

Company: Northann Corp.
Filing Date: 2025-07-01
Form: 10-K
Item: Item 12
Chunk 2
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ZHOU CITY, ZHEJIANG PROVINCE, CHINA.

65

Equity Compensation Plan

The following table provides information as of December 31, 2024 about our equity compensation plan and arrangements:

Plan category Number of securities to be issued upon exercise of outstanding options and restricted stock units                Weighted-average exercise price of outstanding options, and restricted stock units              Number of securities remaining available for future issuance under equity compensation plans        Equity compensation plans approved by security holders  -   -   8,000,000 Equity compensation plans not approved by security holders  -   -   - Total  -   -   8,000,000 

ITEM 13.CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

Employment Agreements and Indemnification Agreements

See “ITEM 11. EXECUTIVE COMPENSATION—Employment Agreements with Executive Officers and Employee Director”.

Other Transactions with Related Parties

During the fiscal years ended December 31, 2024 and 2023, Lin Li, our Chairman of the Board, Chief Executive Officer, President, Secretary, and Treasurer, provided unsecured, due on demand, and interest free loans to the Company’s subsidiaries in a total of $1,062,551 and $118,883 respectively, for the Company’s subsidiaries’ working capital purposes. As of December 31, 2024, the amount due to Lin Li was $2,565,494.

EB-5 Loan Agreement

On January 21, 2025, 3D PRINTING entered into an EB-5 loan agreement (the “Loan Agreement”) with 3DFLOR OPPORTUNITY, LP, a Delaware limited partnership and a related party controlled by the Company’s CEO, Chairman and controlling shareholder, Lin Li (“3DFLOR”), pursuant to which 3DFLOR agreed to provide 3D PRINTING a loan, with an initial maximum principal amount of $24,000,000 at an interest rate of 1.00% per year. The loan shall be secured by a pledge of all 49 million Class A Units of 3D PRINTING, and a promissory note. Subject to certain conditions as set out under the Loan Agreement being fulfilled, 3DFLOR would make an initial advance to 3D PRINTING. The amount of such initial advance would