Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 221

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part II, Item 8
Chunk 221
---
 over periods not to exceed 10 years (five years for incentive stock options granted to holders
of 10% or more of voting stock) from the date of grant. Shares
of Common Stock issued under the Stock Issuance Program may, in the discretion of the Plan Administrator, be fully and immediately vested
upon issuance or may vest in one or more installments over the Participant’s period of Service or upon attainment of specified
performance objectives. The Plan Administrator may not impose a vesting schedule upon any option grant or the shares of Common Stock
subject to that option which is more restrictive than twenty percent (20%)
per year vesting, with the initial vesting to occur not later than one (1)
year after the option grant date. However, such limitation shall not be applicable to any option grants made to individuals who are officers
of the Corporation, non-employee Board members or independent consultants.

2021
Equity Incentive Plan

In
connection with the Business Combination, our board of directors adopted, and our stockholders approved, the Lottery.com 2021 Incentive
Award Plan (the “2021 Plan”) under which 61,652 shares of Class A common stock were initially reserved for issuance. The
2021 Plan allows for the issuance of incentive and non-qualified stock options, stock appreciation rights, restricted stock, restricted
stock units and other stock or cash-based awards. The number of shares of the Company’s Class A common stock available for issuance
under the 2021 Plan increases annually on the first day of each calendar year, beginning on and including January 1, 2022 and ending
on and including January 1, 2031 by a number of shares of Company common stock equal to five percent (5%) of the total outstanding shares
of Company common stock on the last day of the prior calendar year. Notwithstanding the foregoing, the Board may act prior to January
1st of a given year to provide that there will be no such increase in the share reserve for such year or that the increase in the share
reserve for such year will be a lesser number of shares of Company common stock than would otherwise occur pursuant to the preceding
sentence.

     F-22 

Stock
Options

The
Company did not issue any new stock options during the quarter ended September 30, 2025. The following table shows stock option activity
for the year ended December 31, 2024 and quarter ended September 30, 202