Company: HCTI
Filing Date: 2025-02-25
Form Type: PRE 14A
Source: 0001213900-25-017146
Chunk: 24

Company: Healthcare Triangle, Inc.
Filing Date: 2025-02-25
Form: PRE 14A
Chunk 24
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-1 Registration Statement (File No. 333-259180)
as filed with the SEC on September 27, 2021. The Plan is Exhibit 10.6 to that Registration Statement.

At present, the first sentence of Section 3 of
the Plan states that: “Subject to the provisions of Section 10 below, the maximum aggregate number of Shares that may be issued
under the Plan is 4,000,000 all of which may be issued under the Plan pursuant to Incentive Stock Options.” Section 10 of the Plan
provides for the adjustment of the number of shares of common stock subject to the Plan as a result of changes in capitalization, mergers
or other transactions. There are no provisions in the Plan for any increase over the 4,000,000 shares of common stock currently reserved
for the Plan.

On February 24, 2025, the Board of Directors
approved the Plan Amendment, subject to stockholder approval. The Plan will be amended as follows:

The first sentence of Section 3 of the Plan shall
be deleted in its entirety and replaced with the following sentence:

“Subject to the provisions of Section 10,
the number of Shares available for issuance under the Plan will be increased on the first day of each fiscal year beginning with the
2024 fiscal year, in an amount equal to the least of (a) 4,000,000 Shares, (b) a number of Shares equal to twenty percent (20%) of the
total number of shares of all classes of common stock of the Company outstanding on the last day of the immediately preceding fiscal
year, or (c) such number of Shares determined by the Administrator no later than the last day of the immediately preceding fiscal year.”

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Our Board of Directors believes that the proposed
Plan Amendment is in the best interests of, and will provide long-term advantages to, us and our stockholders and recommends the approval
by our stockholders of the Plan Amendment. Stock options are granted by the Board of Directors to the employees, directors and consultants
of our Company upon whose judgment, initiative and efforts we largely depend for the successful conduct of our business. These incentives
provide our employees with a proprietary interest in our Company, thereby stimulating their commitment on our behalf and strengthening
their desire to remain with us. Our Board of Directors anticipates that this direct stake in the future success of our Company also assures
a closer alignment of the interests of employees with