Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 218

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 218
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iii) such number of shares that may be determined by the Board. The amount of shares available for issuance is not
adjusted in connection with a change in the outstanding shares of Common Stock by reason of stock dividends, stock splits, reverse stock
splits, recapitalizations, mergers, consolidations, combinations or exchanges of shares, separations, reorganizations or liquidations;
provided; however, that (i) the amount of shares available for issuance under the 2018 Plan may not exceed the maximum amount of
authorized shares available for issuance under the Articles of Incorporation and (ii) in no event will the Company issue more than
120,000,000 shares of Common Stock under the 2018 Plan, including the maximum amount of shares of Common Stock that may be added to the
2018 Plan in accordance with the automatic quarterly increases. As the date of this filing, there are approximately 73 million shares
of Common Stock authorized for issuance under the 2018 Plan.

Types
of Awards. The 2018 Plan provides for the granting of incentive stock options, non-qualified stock options (“NQSOs”),
stock grants and other stock-based awards, including Restricted Stock and Restricted Stock Units (as defined in the 2018 Plan).

    ●
    Incentive
    and Nonqualified Stock Options. The plan administrator determines the exercise price of each stock option. The exercise price of
    an NQSO may not be less than the fair market value of our Common Stock on the date of grant. The exercise price of an incentive stock
    option may not be less than the fair market value of our Common Stock on the date of grant if the recipient holds 10% or less of
    the combined voting power of our securities, or 110% of the fair market value of a share of our Common Stock on the date of grant
    otherwise.

    ●
    Stock
    Grants. The plan administrator may grant or sell stock, including restricted stock, to any participant, which purchase price, if
    any, may not be less than the par value of shares of our Common Stock. The stock grant will be subject to the conditions and restrictions
    determined by the administrator. The recipient of a stock grant shall have the rights of a stockholder with respect to the shares
    of stock issued to the holder under the 2018 Plan.

    ●
    Stock-Based Awards. The plan administrator of the 2018 Plan may grant other