Company: OCEA
Filing Date: 2025-02-14
Form Type: PRE 14A
Source: 0001493152-25-006994
Chunk: 41

Company: Ocean Biomedical, Inc.
Filing Date: 2025-02-14
Form: PRE 14A
Chunk 41
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 in our development and financial success. Without stockholder approval of this proposal, we believe our ability to attract and retain the services of directors, officers, consultants, advisors, and employees would be negatively impacted, and our recruiting, retention and incentive efforts would become more difficult.

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Awards (as defined below) under our 2025 Plan will be granted in amounts and to individuals as determined by the Committee (as defined below) in its sole discretion. Therefore, the benefits or amounts that will be received by officers, directors, employees, and consultants under our 2025 Plan are not determinable at this time. However, we believe stockholder approval of the Plan Amendment would allow us to continue to attract and retain talented directors, officers, employees, and consultants.

Background of Our 2025 Plan

Our 2025 Plan will remain in effect until July 2028, unless terminated earlier by our Board.

Material Features of Our 2025 Plan

The material features of our 2025 Plan, as amended by the Plan Amendment, are summarized below. This summary is not a complete description of our 2025 Plan, and it is qualified in its entirety by reference to the complete text of our 2025 Plan document. Our 2025 Plan and the Plan Amendment are attached as Appendix A-1 and Appendix A-2 to this Proxy Statement, respectively.

Stock Subject to Our 2025 Plan

Subject to stockholder approval, the number of shares of Common Stock reserved under our 2025 Plan will be 30,000,000 shares. Shares of Common Stock subject to our 2025 Plan consist of unissued shares, treasury shares or previously issued shares held by any Subsidiary, and such number of shares of Common Stock will be reserved for such purpose. Any of such shares of Common Stock that may remain unissued and that are not subject to outstanding Options, Warrants or Preferred Stock at the termination of our 2025 Plan will cease to be reserved for the purposes of our 2025 Plan, but until termination of our 2025 Plan we will at all times reserve a sufficient number of shares of Common Stock to meet the requirements of our 2025 Plan.

Administration

Our Board appointed our Compensation Committee as the administrator of our 2025 Plan. In the event that for any reason the Compensation Committee is unable to act, or if our Board otherwise determines to administer the 2025 Plan, then the 2025 Plan will be administered by our Board. In either such