Company: LCTX
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0000950170-25-060090
Chunk: 63

Company: Lineage Cell Therapeutics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 63
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 our shareholders in substantially the same proportions as their ownership of our outstanding voting securities immediately prior to such sale or other disposition; or (iv) individuals who, on the date the 2021 Plan was adopted by our Board, are members of our Board (the “Incumbent Directors”) cease for any reason to constitute at least a majority of the members of our Board; provided, however, that if the appointment or election (or nomination for election) of any new Board member was approved or recommended by a majority of the Incumbent Directors then still in office, such new member will be considered as an Incumbent Director; provided, however, that no individual initially elected or nominated as a member of our Board as a result of an actual or threatened election contest with respect to Board membership or as a result of any other actual or threatened solicitation of proxies by or on behalf of any person other than our Board will be deemed to be an Incumbent Director.

Plan Amendments and Termination

The Plan Administrator has the authority to amend or terminate the 2021 Plan at any time. However, except as otherwise provided in the 2021 Plan or an Award agreement, no amendment or termination of the 2021 Plan may materially impair a participant’s rights under his or her outstanding Awards without the participant’s consent.

No incentive stock options may be granted under the 2021 Plan after July 21, 2031, which is the tenth anniversary of the date the 2021 Plan was adopted by our Board.

U.S. Federal Income Tax Consequences

The following discussion summarizes certain federal income tax consequences of participation in the 2021 Plan. The information is based upon existing federal income tax rules and therefore is subject to change when the provisions of those rules and the regulations thereunder change. Participants should consult their tax advisors regarding the federal, state, local and other tax consequences of the grant or exercise of an Award or the disposition of shares acquired the 2021 Plan. The 2021 Plan is not qualified under the provisions of Section 401(a) of the Internal Revenue Code of 1986, as amended (the “Code”), and is not subject to any of the provisions of the Employee Retirement Income Security Act of 1974. Our ability to realize the benefit of any tax deductions described below depends on our generation of taxable income as well as the requirement of reasonableness, the provisions of Section 162(m) of the Code, and the satisfaction of our tax reporting obligations.

Nonstatutory Stock Options

Generally