Company: ALCE
Filing Date: 2025-02-07
Form Type: PRE 14C
Source: 0001213900-25-011375
Chunk: 13

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-02-07
Form: PRE 14C
Chunk 13
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 increase the number of shares reserved for issuance under the 2023 Plan from 2,240,000 so that the maximum aggregate number of shares of Common Stock that may be issued under the Plan is increased each fiscal year (the “Adjustment Date”) by an amount equal to the lesser of (i) that number of shares equal to 15% of the outstanding shares of Common Stock on the applicable Adjustment Date, less (a) the number of shares of Common Stock that may be issued under the Plan prior to the Adjustment Date, and (b) the number of shares of Common Stock that may be issued under any other stock option plan of the Company in effect as of the Adjustment Date; or (ii) such lesser number of shares of Common Stock as may be determined by the Board (form of which is provided herein as Annex B). Purpose of the 2023 Plan Amendment The Board and the Majority Stockholders have approved the 2023 Plan Amendment to increase the number of shares reserved for issuance under the 2023 Plan from 2,240,000 so that the maximum aggregate number of shares of Common Stock that may be issued under the Plan is increased each fiscal year (the “Adjustment Date”) by an amount equal to the lesser of (i) that number of shares equal to 15% of the outstanding shares of Common Stock on the applicable Adjustment Date, less (a) the number of shares of Common Stock that may be issued under the Plan prior to the Adjustment Date, and (b) the number of shares of Common Stock that may be issued under any other stock option plan of the Company in effect as of the Adjustment Date; or (ii) such lesser number of shares of Common Stock as may be determined by the Board (form of which is provided herein as Annex B). The purpose of the 2023 Plan Amendment is to ensure that a sufficient amount of awards under the 2023 Plan are available for issuance in the future. The Board approved the 2023 Plan to ensure that the Company has adequate ways in which to provide stock -basedcompensation to its directors, officers, employees, and consultants. The Board believes that the ability to grant stock -basedcompensation is important to the Company’s future success. The grant of stock -basedcompensation, such as stock options, restricted stock awards and restricted stock units can motivate high levels of performance and provide an effective means of recognizing employee and consultant contributions to the Company’s success. In addition, stock -basedcompensation can be valuable in recruiting and