Company: BGLC
Filing Date: 2025-11-14
Form Type: PRE 14A
Source: 0001477932-25-008317
Chunk: 27

Company: BioNexus Gene Lab Corp
Filing Date: 2025-11-14
Form: PRE 14A
Chunk 27
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 transferability and are subject to a substantial risk of forfeiture, the participant must generally recognize ordinary income equal to the fair market value of the shares or other property received at the time the shares or other property become transferable or are no longer subject to a substantial risk of forfeiture, whichever occurs first. We generally will be entitled to a deduction in an amount equal to the ordinary income recognized by the participant. A participant may elect to be taxed at the time he or she receives shares (e.g., restricted stock) or other property rather than upon the lapse of transferability restrictions or the substantial risk of forfeiture. However, if the participant subsequently forfeits such shares he or she would not be entitled to any tax deduction or, to recognize a loss, for the value of the shares or property on which he or she previously paid tax. Alternatively, if an Award that results in a transfer to the participant of cash, shares or other property does not contain any restrictions as to their transferability and is not subject to a substantial risk of forfeiture, the participant must generally recognize ordinary income equal to the cash or the fair market value of shares or other property actually received. We generally will be entitled to a deduction for the same amount.

Required Vote of Stockholders

The approval of the Incentive Plan Proposal requires that a quorum exist and that the number of votes cast in favor of approval of the Incentive Plan Proposal exceeds the number of votes cast against approval of the Incentive Plan Proposal. Abstentions are not considered votes cast and will therefore have no effect on the Incentive Plan Proposal. Brokers are not permitted to vote shares held for a customer on “non-routine” matters (such as the Equity Incentive Plan Proposal) without specific instructions from the customer. Therefore, broker non-votes are not considered votes cast and will also have no effect on the outcome of the Incentive Plan Proposal.

Interests of Directors and Executive Officers

Our directors and executive officers have no substantial interests, directly or indirectly, in the matters set forth in this proposal except to the extent of their ownership of shares of our Common Stock.

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT OUR STOCKHOLDERS VOTE “FOR” PROPOSAL 2 TO APPROVE OF THE 2025 EQUITY INCENTIVE PLAN AND THE FORM, TERMS AND PROVISIONS.

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<div align='center'>PROPOSAL 3:

RATIFICATION OF THE SELECTION OF THE INDEPENDENT