Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 384

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 384
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 to the approval of the CCIX shareholders. If the CCIX shareholders do not approve the Incentive Plan, the Incentive Plan will not become effective and no shares of Post-Closing Company Class A common stock will become available for issuance thereunder.

Certain Key Plan Provisions

The Incentive Plan will continue for a term of 10 years from its effectiveness unless terminated earlier by the administrator of the Incentive Plan.

The Incentive Plan provides for the grant of stock options (both incentive stock options and nonstatutory stock options), stock appreciation rights, restricted stock, restricted stock units and performance awards.

A number of shares of Post-Closing Company Class A common stock will be authorized for issuance pursuant to awards under the Incentive Plan equal to (1) shares of Post-Closing Company Class A common stock, plus (2) any shares of Post-Closing Company Class A common stock subject to Exchanged Options and Exchanged RSUs (as such terms are defined in the Merger Agreement) and that, on or after the Effective Time, are cancelled or forfeited, expire or otherwise terminate without being exercised in full, are tendered to or withheld by the Post-Closing Company to satisfy payment of exercise price or tax withholding obligations, or are forfeited to or repurchased by the Post-Closing Company due to failure to vest (provided that the maximum number of shares that may be added to the Incentive Plan pursuant to the foregoing clause (2) is shares).

In addition, the Incentive Plan provides for an automatic share reserve increase feature, whereby the share reserve will be increased automatically on the first day of each fiscal year of the Post-Closing Company beginning with the Post-Closing Company’s 2026 fiscal year, in an amount equal to the least of (1) shares of Post-Closing Company Class A common stock, (2) a number of shares of Post-Closing Company Class A common stock equal to 5% of the total number of shares of all classes of Post-Closing Company common stock outstanding on the last day of the immediately preceding fiscal year of the Post-Closing Company, and (3) such number of shares as determined by the Incentive Plan’s administrator no later than the last day of the Post-Closing Company’s immediately preceding fiscal year.

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The shares reserved for issuance under the Incentive Plan (as described two bullet points above) may be used for the grant of incentive stock options plus, to the extent