Company: CTLPP
Filing Date: 2025-07-24
Form Type: DEFM14A
Source: 0001140361-25-027048
Chunk: 114

Company: CANTALOUPE, INC.
Filing Date: 2025-07-24
Form: DEFM14A
Chunk 114
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aloupe equity awards (with an aggregate maximum number of 600,000 shares, of which a maximum number of 400,000 shares may be utilized for off-cycle grants) to employees of Cantaloupe and its subsidiaries in the ordinary course of business consistent with past practice (including to named executive officers and including with respect to individual and aggregate grant amounts and the allocation of awards) (which we refer to as the “2026 Equity Awards”); provided that (a) the 2026 Equity Awards will be granted pursuant to the forms of award agreements used for the awards granted by Cantaloupe during fiscal year 2025 to similarly situated employees, except that all of the 2026 Equity Awards will be in the form of time-based Cantaloupe equity awards and such award agreements will reflect the treatment in clause (b); and (b) on the closing date of the Merger, (i) the 2026 Equity Awards will vest on a prorated basis based on the total number of shares of our common stock subject to the 2026 Equity Award multiplied by a fraction equal to (x) the number of calendar days that have elapsed since the grant date of such award divided by (y) 1,095 and (ii) will be converted into the right to receive, in accordance with the terms of the Merger Agreement, an amount in cash equal to the merger consideration; provided however, all 2026 Equity Awards that are unvested as of 12:01 a.m., Eastern time, on the closing date of the Merger (after taking into account the vesting described in clause (i)) shall (1) be forfeited for no consideration immediately prior to the effective time of the Merger and (2) not be subject to the treatment of Cantaloupe equity awards set forth in the Merger Agreement. Unless otherwise provided by any offer letter, employment agreement, or employee benefit plan, if an employee terminates employment with Cantaloupe for any reason prior to closing of the Merger, such employee will forfeit all of his or her 2026 Equity Awards upon such termination.

Tax Planning Strategies

Under the Merger Agreement, between June 15, 2025 and closing of the Merger, Cantaloupe may take such mitigation steps as are reasonably necessary to avoid any excess parachute payments under Section 280G of the Code and any excise taxes related thereto under Section 4999 of the Code following consultation with 365, including