Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 556

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 2
Chunk 556
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the “Executive”) entered into an Employment
Agreement (“Agreement”). The Agreement established an annual Base Salary of not less than $300,000 paid in periodic installments
in accordance with the Company’s regular payroll practices. The Agreement also provides for a bonus equal to 20% of net income
based on revenue and profitability targets as set forth in the Company’s Business Plan. The performance bonus is calculated and
paid on a quarterly basis. Under the terms of the Agreement, Mr. Stauss was paid $43,031 in October 2023 for the performance results
through the quarter ended September 30, 2023. The Agreement also entitles the Executive to participate in employee benefit plans of the
Company consistent with the benefit plan requirements for all employees. The Executive is also entitled to prompt reimbursement by the
Company for all reasonable ordinary and necessary travel, entertainment and other expenses incurred by the Executive during the employment
period. The Agreement has been extended through March 31, 2027.

34

Outstanding
Equity Awards at March 31, 2025 

    Name 
    Number
    of shares Granted Underlying Stock Options Held on March 31, 2025 
  
    John Stauss 
     458,000 
  
    Ronald Bourque 
     655,000 
  
    Jeff Parsons 
     100,000 
  
    Robert Wyler 
     478,000 

Outstanding
Equity Awards at Fiscal Year-End

The
following table summarizes the number of shares of common stock underlying outstanding equity incentive plan awards for each named executive
officer as of March 31, 2025.

    Option
    Awards
  
    Name 
    Vesting
                                                                                Start
                                            Date 
    Underlying
    Unexercised Options (#) Exercisable  
    Underlying
    Unexercised Options (#) Unexercisable  
    Option
                                                                                Exercise
                                            Price ($)  
    Option
                                                                                Expiration
                                            Date
  
    John
    Stauss 
    1/31/2025 
              -  
     458,000  
    $0.83  
    1/31/2030
  
    Ronald
    Bourque 
    1/31/2025 
     -  
     655,000  
    $0.75  
    1/31/2030
  
    Jeff
    Parsons