Company: BNBX
Filing Date: 2025-11-10
Form Type: DEF 14A
Source: 0001104659-25-109257
Chunk: 24

Company: BNB PLUS CORP.
Filing Date: 2025-11-10
Form: DEF 14A
Chunk 24
---
 employees because it would disrupt the normal and scheduled operations of our compensation programs and restrict their ability to utilize equity grants to retain and motivate our employees and other key talent.

Historically, our ability to offer competitive equity compensation packages was integral to hiring and retaining key performers who are instrumental in the operations of the Company. For these reasons, we believe it is critically important to approve the Plan Amendment Proposal at this time to ensure we have a sufficient number of shares authorized for issuance under the Amended Plan.

#### Reasons for the Plan Amendment Proposal
The number of shares available for issuance under our Current Plan has been significantly decreased due to the Previous Reverse Stock Splits. Considering this fact, our ability to grant equity-based compensation to our employees as a form of pay-for-performance long-term incentives has been greatly diminished, resulting in no equity-based compensation being issued to any employee in Fiscal 2024 or Fiscal 2025. The shares available for issuance under our Current Plan would also be impacted by any potential future reverse stock splits.

Over the past twelve months we have undertaken a number of actions to transform and reinvigorate our business and improve our performance, such as divesting certain operations, realigning our segments and installing new segment management. More recently, the Company is executing a yield-oriented digital asset treasury strategy centered on BNB, the native cryptocurrency of the Binance blockchain.

In addition, as disclosed in our Current Report on Form 8-K filed on October 6, 2025, our Board of Directors authorized, and our officers implemented, a restructuring plan pursuant to which we will reduce overall operating expenses to focus resources on our BNB Strategy. The restructuring plan includes a reduction of our then current workforce by sixteen employees, or approximately 60%. We estimate that we will incur aggregate pre-tax charges of approximately $1,400,000 in connection with the reduction-in-force, primarily consisting of severance payments, employee benefits, and related costs. We expect that the reduction-in-force will be substantially completed by the end of October 2025 and that the associated charges will be recorded in the first quarter of fiscal 2026. We estimate that the restructuring will result in annualized cost savings of approximately $2,900,000. The estimated charges that we expect to incur are subject to a number of assumptions, and actual results may differ materially from these estimates. We may also incur additional costs not currently contemplated due to events that may occur as a result of, or that are associated with, the restructuring plan.

Equity compensation under the Current Plan