Company: SACH
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-042273
Chunk: 51

Company: Sachem Capital Corp.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 51
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 entity thereof) does not assume or substitute awards, the holders of such awards are entitled to the benefits provided for Continued, Assumed or Substituted Awards as of the date of the change in control, to the same extent as if the holder’s continuous service had been terminated by the Company without cause as of the date of the change in control. The Compensation Committee may provide that each award that is vested (or vests) as of the change in control will be canceled in exchange for a payment in an amount equal to (a) the fair market value per share subject to the award immediately prior to the change in control over the exercise or base price (if any) per share subject to the award multiplied by (b) the number of shares granted under the award. If the fair market value per share subject to an option or SAR immediately before the change in control is less than the exercise or base price per share of such award, such awards will be cancelled for no consideration. A change in control means, generally, (a) the acquisition by any person of one-third or more of the voting power of all classes of capital stock entitled to vote, (b) the current members of our Board, or their approved successors, cease to be a majority of the Board within any 24-month period, (c) a reorganization, merger, consolidation or sale or disposition of all or substantially all of our assets, unless our shareholders hold one-third or more of the voting power of the resulting company, no person owns 50% or more of the voting power of all classes of capital stock entitled to vote (except to the extent such ownership existed prior to the corporate transaction and at least a majority of the current members of our remain members of the Board following the corporate transaction, or (d) the voluntary or involuntary liquidation, dissolution or winding up of the Company. Notwithstanding the above, the following events generally will not constitute a change in control: (a) unless otherwise determined by the Compensation Committee, (i) a merger or consolidation of the Company as the result of which the Company becomes subject to the reporting requirements of Section 13 or Section 15(d) of the Securities Exchange Act of 1934 (or a subsidiary of such an entity) and the Company’s shares outstanding immediately prior to the relevant transaction(s) continue to represent, or are converted into or exchanged for voting securities that represent, immediately following such transaction(s), at least 50%, by voting power, of the surviving or resulting entity or (ii) a Board approved