Company: PSTV
Filing Date: 2025-07-21
Form Type: DEF 14A
Source: 0001140361-25-026611
Chunk: 80

Company: PLUS THERAPEUTICS, INC.
Filing Date: 2025-07-21
Form: DEF 14A
Chunk 80
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 stockholders (collectively referred to as the “Plan” in this proposal). The Board is requesting stockholder approval of the Fifth Amended Plan. The Board believes that equity awards are a key element underlying its ability to retain, recruit and motivate key personnel who are critical to our ability to execute successfully and implement our growth plans. After reviewing the 2020 Plan, the Board has determined that the current share reserve available for awards under the 2020 Plan is insufficient and limits the Board’s ability to provide equity incentives that align the interests of our directors, executives and employees with those of our stockholders and limits our ability to attract and retain talented personnel. Approval of the Fifth Amended Plan by our stockholders will allow us to grant stock options, restricted stock unit awards and other awards at levels determined appropriate by our Board or Compensation Committee. The Fifth Amended Plan contains the following material changes from the Plan:

| • | Subject to adjustment for certain changes in our capitalization, the maximum aggregate number of shares of our Common Stock that may be issued under the Fifth Amended Plan is increased by 20,000,000 shares. |

| • | Subject to adjustment for certain changes in our capitalization, the number of shares of our Common Stock issuable under the Fifth Amended Plan as incentive stock options (“ISOs”) has been increased to 21,303,334 shares. |

| • | The Fifth Amended Plan extends the period during which ISOs can be granted—up until ten (10) years following the date the Fifth Amended Plan was approved by the Board. |

The following summary of the principal features of the Fifth Amended Plan is qualified in its entirety by the full text of the Fifth Amended Plan, a copy of which is attached to this Proxy Statement as Appendix B. Compensation and Governance Best Practices The Fifth Amended Plan, approved by our Board and submitted for stockholder approval, includes an increase in the number of shares available for issuance of equity incentive awards by the Company by 20,000,000 shares. The Fifth Amended Plan contains the following important compensation and governance best practices:

| • | No single trigger accelerated vesting upon change in control. The Fifth Amended Plan does not provide for automatic vesting of awards upon a change in control. |

| • | No liberal change in control definition. The change in control definition in the Fifth Amended Plan is not a “liberal” definition. A change in control transaction must actually occur in order for the change in control provisions in the Fifth