Company: OCEA
Filing Date: 2025-02-26
Form Type: DEF 14A
Source: 0001493152-25-008279
Chunk: 19

Company: Ocean Biomedical, Inc.
Filing Date: 2025-02-26
Form: DEF 14A
Chunk 19
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 |     | Option expiration 
 date              |

Directors’ Compensation

The following summary compensation table sets forth information concerning compensation for services rendered in all capacities during 2024 awarded to, earned by or paid to our directors. The value attributable to any warrant awards reflects the grant date fair values of stock awards calculated in accordance with FASB Accounting Standards Codification Topic 718.

| Name |     | Year |     | Fees                   
 Earned or paid in cash |     | Stock  
 awards |     | Option 
 awards |     | Non-equity                  
 incentive plan compensation |     | Non-qualified                  
 deferred compensation earnings |     | All                
 other compensation |     | Total |
|      |     |      |     | -$                     |     | -$     |     | -$     |     | -$                          |     | -$                             |     | -$                 |     | -$    |

| 16 |

2022 Stock Option and Incentive Plan

The Company’s Board of Directors (“the Board”) approved and adopted the 2022 Stock Option and Incentive Plan and Form of Non-Qualified Stock Option Agreement for Non-Employee Directors (the “Incentive Plan”) prior to the Closing of the Business Combination.

The maximum number of shares of common stock that may be initially issued or transferred pursuant to awards under the Incentive Plan equals 4,360,000 shares (the “Share Limit”). The Share Limit will automatically increase on the first trading day in January of each calendar year during the term of the Incentive Plan, with the first such increase to occur in January 2024, by an amount equal to the lesser of (i) three percent (3%) of the total number of shares of common stock issued and outstanding on December 31 of the immediately preceding calendar year or (ii) such number of shares of common stock as may be established by the Board.

The Incentive Plan authorizes stock options, stock appreciation rights, and other forms of awards granted or denominated in the Company’s common stock or units of the Company’s common stock, as well as cash bonus awards. The Incentive Plan retains flexibility to offer competitive incentives and to tailor benefits to specific needs and circumstances. Any award may be structured to be paid or settled in cash. Any awards under the Incentive Plan (including awards of stock options and stock appreciation rights) may be fully-vested at grant or may be subject to time- and/or performance-based vesting requirements.

The Incentive Plan does not