Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 704

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 704
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) and the 2021 Share Incentive Plan (“ 2021 Plan ” and collectively with the 2017 Plan, the “ Plans ”). Under the 2017 Plan, the Company granted Options and RSAs. Under the 2021 Plan, the Company granted RSUs, PRSUs, and Penny Options. As of June 30, 2025, there were 3,297,803 and 17,202,216 shares available for future grants under the 2017 Plan and 2021 Plan, respectively. Components of Stock-Based Compensation Stock-based compensation is presented in the consolidated statements of operations and comprehensive loss as follows:

|                                               | (in thousands) |  Five Months 
        Ended 
 December 31, 
         2023 |     |   |   Year Ended 
 December 31, 
         2024 |     |   | Six Months Ended 
    June 30, 2025 |
|:----------------------------------------------|:---------------|-------------:|:----|:--|-------------:|:----|:--|-----------------:|
| Research and development                      | $              |          387 |     | $ |        2,506 |     | $ |              223 |
| Sales, marketing, general, and administrative |                |          548 |     |   |        1,574 |     |   |              493 |
| Total stock-based compensation                | $              |          935 |     | $ |        4,080 |     | $ |              716 |

<div align='center'>F-74

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</div>

Stock-based compensation is recognized for the following types of awards:

|                                | (in thousands) |  Five Months 
        Ended 
 December 31, 
         2023 |     |   |   Year Ended 
 December 31, 
         2024 |     |   | Six Months Ended 
    June 30, 2025 |
|:-------------------------------|:---------------|-------------:|:----|:--|-------------:|:----|:--|-----------------:|
| Common stock options           | $              |          228 |     | $ |          631 |     | $ |               90 |
| Restricted stock units         |                |          668 |     |   |        1,640 |     |   |              620 |
| Restricted share awards        |                |