Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 264

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 264
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 the plan, the 2024 Plan was amended to include an exception to increase the limitation on grants made to non -employeedirectors in extraordinary circumstances. This proposal is being submitted to Gryphon’s stockholders in compliance with the Nasdaq Corporate Governance Requirements concerning stockholder approval of equity compensation plans and/or material revisions to these plans. While equity incentive awards are an important part of Gryphon’s compensation program, the Gryphon Board and the Compensation Committee of the Gryphon Board are mindful of their responsibility to the Gryphon stockholders to exercise judgment in granting equity -basedawards. No burn rate data has been provided because the limited usage of equity grants in 2024 is not anticipated to be reflective of the Combined Company’s potential equity usage following the Closing. As of December 31, 2024, the following awards were outstanding under the 2024 Plan:

| Unvested Shares of Restricted Stock                           |     | 4,086,261 |
| RSU Awards Outstanding                                        |     | 3,529,034 |
| Performance Stock Unit (“PSU”) Awards Outstanding (at target) |     |   557,227 |

Based solely on the closing price of a share of Gryphon Common Stock, as reported on Nasdaq on May 9, 2025, which was $0.52 per share, the maximum aggregate market value of the shares of the Combined Company Common Stock that could be issued under the 2025 Plan as of immediately after the Closing is $551,968.04.

140 Summary of the Plan Amendment Proposal The 2025 Plan provides for the following grants: (a) incentive stock options (within the meaning of Section 422 of the Code) (“ ISO” or “ ISOs”); (b) nonstatutory stock options (i.e., options other than ISOs) (“ NSO” or “ NSOs”), (c) stock appreciation rights (“ SAR” or “ SARs”), (d) restricted stock grants, (e) RSUgrants, (f) performance grants and (g) other grants based in whole or in part by reference to shares that are granted pursuant to the terms and conditions of the 2025 Plan. The Combined Company Board may determine to make grants that are based on shares of Class C Common Stock which may be convertible into shares of Class A Common Stock. The 2025 Plan aims to reflect certain “best practices” that are consistent with the interests of Gryphon’s stockholders and with its corporate governance policies. The