Company: FGMCU
Filing Date: 2025-12-30
Form Type: S-4/A
Source: 0001104659-25-124947
Chunk: 560

Company: FG Merger II Corp.
Filing Date: 2025-12-30
Form: S-4/A
Chunk 560
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 100% of the Fair Market Value of one share of Common Stock as of the Grant Date. The Administrator shall determine when the Stock Option may be exercised, including any performance, vesting or other conditions, provided the term does not exceed ten (10) years from the Grant Date. If the Participant’s employment or service is terminated for cause, their unexercised Stock Options immediately lapse, including any vested Stock Options. Incentive Stock Options (“ISOs”) may only be granted to Participants who are also employees. The exercise price of ISOs shall equal the Fair Market Value of one share of Common Stock as of the Grant Date and shall expire upon the earlier of ten (10) years from the Grant Date (unless a shorter time is set in the Participant’s award agreement), provided that, ISOs granted to an employee who owns stock possessing more than 10% of the total combined voting power of all classes of stock of the Company must have a per-share exercise price of no less than 110% of the Fair Market Value of one share of Common Stock as of the Grant Date and cannot have a term exceeding five (5) years from the Grant Date. The vested portion of a Stock Option lapses three (3) months following the effective date of the Participant’s termination of employment or twelve (12) months following the effective date of the Participant’s termination of employment due to death or disability, as defined in the Plan (in each case, unless a shorter time is set in the Participant’s award agreement) but in no event later than the expiration of the Stock Option.

<div align='center'>F-50</div>

A summary of Stock Option activity as of December 31, 2024, and December 31, 2023 is as follows:

| ​                                         
 ​                                         
 ​                                         
 (In Thousands except for per share price) | ​     
 ​ ​ ​ 
 ​     
 ​ ​ ​ |                                         ​ 
 Weighted Average Exercise Price per Share 
                                         ​ 
                             Stock Options | ​     
 ​     
 ​ ​ ​ | ​              
 Exercise Price 
 per Share      |     ​ | ​     
 ​     
 ​ ​ ​ |               ​ 
               ​ 
 Term (in years) |
|:------------------------------------------|:------|------------------------------------------:|:------|:---------------|------:|:------|----------------:|
| Outstanding as of December 31, 2022       | ​     |                                    61,288 | ​     | $              |  0.13 | ​