Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 590

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1B
Chunk 590
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. The payment of cash dividends in the future will depend upon our revenues and earnings, if any, capital
requirements and general financial condition. The payment of any cash dividends will be within the discretion of our board of directors
at such time.

Series A Super Voting Preferred Stock

On February 14, 2025, the board of directors (the
“Board”) of the Company declared the formation of and approved the issuance of an aggregate of 1 share of Series A Super Voting
Preferred Stock, par value $0.0001 per share (“Series A”). On February 18, 2025, the Company filed a certificate of designation
(the “Certificate of Designation”) with the Secretary of State of the State of Delaware therein establishing the Series A
Super Voting Preferred Stock and describing the rights, obligations and privileges of the Series A Super Voting Preferred Stock. Concurrently,
the Company issued the 1 share of Series A on the same date, in book-entry form. Each share of Series A has a par value of $0.0001 per
share. The Series A is not convertible into, or exchangeable for, shares of any other class or series of stock or other securities of
the Company. The Series A has no stated maturity and is not subject to any sinking fund. The holders of Series A shall not be entitled
to receive any distributions in the event of any liquidation, dissolution or winding up of the Company.

On March 21, 2025 the Company filed an Amended
and Restated Certificate of Designation of its Series A, such that 10,000 shares are designated as Series A and issued to Mr. Vincent
Browne and each share of the Series A is entitled to have the right to vote in an amount equal to 10,000 votes per share, voting with
the common stock on all matters as a single class.

On April 24, 2025 the Company issued an additional
50,000 shares of Series A to Mr. Browne.

43

Securities Authorized
for Issuance Under Equity Compensation Plans

On
October 9, 2022, our board of directors approved and on December 4, 2023 our stockholders approved the Alternus Clean Energy Inc.
2023 Equity Incentive Plan (the “2023 Plan”). The 2023 Plan provides for the grant of the following types of stock awards:
(i) incentive stock options, (ii) stock appreciation rights, (iii) restricted stock awards