Company: CRVO
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001437749-25-013543
Chunk: 60

Company: CervoMed Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 60
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 governance practices, including the following:

| ● | No Automatic Share Replenishment or “Evergreen” Provision.  The number of shares of our common stock authorized for issuance under the 2025 Plan is fixed and will not adjust based upon the number of outstanding shares of our common stock.  We currently expect that the number of shares of our common stock authorized for issuance under the 2025 Plan will last up to approximately three years, at which time we expect to ask our stockholders to approve an additional share authorization or a new plan to replace the 2025 Plan. |

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| ● | Not Excessively Dilutive to our Stockholders.  As described in more detail below under the heading “—Background for Shares Authorized for Issuance Under the 2025 Plan,” we believe that the number of shares authorized for issuance under the 2025 Plan is appropriate and not excessively dilutive to our stockholders. |

| ● | Limit on Number of Incentive Awards in One Year.  No participant may be granted incentive awards covering more than 400,000 shares of common stock during any one calendar year. |

| ● | Limit on Non-Employee Director Awards.  The maximum aggregate grant date fair value (determined in accordance with ASC 718) of incentive awards to be granted and other cash compensation paid to any non-employee director in any calendar year may not exceed $750,000 increased to $1,000,000 in the year in which such non-employee director initially joins the Board. |

| ● | No Repricing of Stock Options or Stock Appreciation Rights.  The 2025 Plan prohibits the repricing of outstanding “underwater” stock options or stock appreciation rights without stockholder approval, except for any adjustments required in connection with certain corporate transactions.  Repricing is broadly defined to include amendments or modifications to the terms of an outstanding stock option or stock appreciation right to lower the exercise or grant price or cancelling an outstanding stock option or stock appreciation right in exchange for cash, other incentive awards or other stock options or stock appreciation rights having a lower exercise price. |

| ● | No Discounted Stock Options or Stock Appreciation Rights.  The 2025 Plan prohibits granting stock options and stock appreciation rights with exercise prices lower than the fair market value of a share of our common stock on the grant date, except in connection with the assumption of awards in certain mergers, consolidations, acquisitions of property or stock, reorganizations or other similar