Company: HSDTW
Filing Date: 2025-10-02
Form Type: PRE 14A
Source: 0001104659-25-096093
Chunk: 37

Company: Solana Co
Filing Date: 2025-10-02
Form: PRE 14A
Chunk 37
---
 Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Incentive Side Letters On September 24, 2025, the Company entered into side letter agreements with Mr. Andreeff and Mr. Mathiesen (together, the “Side Letters”). The Side Letters provide for one-time discretionary cash bonuses paid to Mr. Andreeff and Mr. Mathiesen in amounts equal to $890,000 and $610,000, respectively (together, the “Cash Bonuses”). The Cash Bonuses will directly offset any severance, bonus opportunity, equity, retirement or other benefit under any plan or arrangement of the Company to which Mr. Andreeff and Mr. Mathiesen would otherwise be entitled. In consideration of the payment of the Cash Bonuses, each of Mr. Andreeff and Mr. Mathiesen have agreed that the offerings consummated on September 18, 2025, as previously disclosed in the Company’s Current Report on Form 8-K filed on September 18, 2025, do not constitute a Change in Control (as defined Mr. Andreeff’s and Mr. Mathiesen’s employment agreements, as applicable) (together, the “Employment Agreements”) or give rise to an event constituting Good Reason under the Employment Agreements. To the extent any amounts become due or claimed to be due to Mr. Andreeff or Mr. Mathiesen under the Employment Agreements or otherwise upon or following any termination of Mr. Andreeff’s or Mr. Mathiesen’s employment with the Company, including without limitation any severance, change-in-control severance, pro-rata bonus, continued COBRA subsidies, or other cash amounts, such amount will be offset dollar-for-dollar against the Cash Bonuses, as applicable. 22

TABLE OF CONTENTS

PAY VERSUS PERFORMANCE We are providing the following information about the relationship between executive compensation actually paid (“CAP”) and certain financial performance of the Company as required by SEC rules. Please see “Narrative Disclosure to Summary Compensation Table” for discussion of the primary components of our compensation program.**

**Pay Versus Performance Table**

| Year | ​ | ​ | SummaryCompensationTable Totalfor PEO($)(1) |   |           |   | ​ | ​ | CompensationActuallyPaidto PEO($)(2) |   |           |   | ​ | ​ | AverageSummaryCompensationTable Totalfor Non-PEONEOs($)(3