Company: KITTW
Filing Date: 2025-04-29
Form Type: DEF 14A
Source: 0001849820-25-000120
Chunk: 25

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-29
Form: DEF 14A
Chunk 25
---
 compensation plan. We are seeking stockholder approval of the Amendment because it is deemed a material revision to the Plan. Further, the terms of the Plan require stockholder approval of any amendment to the Plan that increases the number of shares available for issuance thereunder

#### Stockholder Vote
The Plan was originally approved by our stockholders at the Company’s special meeting of stockholders on September 6, 2022. The Amendment will become effective on the date it is approved by our stockholders. If this Proposal is approved by our stockholders, we intend to file with the SEC a registration statement on Form S-8 covering the additional 1,762,699 shares of our common stock issuable under the Plan.

If our stockholders do not approve this Proposal, the Amendment will not become effective, and the current Long-Term Incentive Plan will continue in full force and effect subject to the limitations set forth therein. However, as a result of the limited number of shares remaining available for issuance under the Long-Term Plan, our projections show that the current share reserve will not likely be sufficient to cover anticipated new equity grants needed during and beyond 2025.

To have an adequate supply of shares available for future equity awards to attract, retain, motivate and expand the team responsible for executing our business strategy and objectives, the Board unanimously recommends that the stockholders approve the Amendment to the Long-Term Incentive Plan providing for a reserve of an additional 1,762,699 new shares for future stock-based incentives.

Therefore, we are asking you to approve an amendment to the Plan to increase the number of shares of our common stock available for the granting of awards under the Plan from its current limit of 987,301 shares to 2,750,000 shares, or an increase of 1,762,600 shares. Based on our projected usage, the Compensation Committee estimates that the shares available under the Plan after this amendment will be sufficient to provide grants until 2026. This timeline is simply an estimate used to determine the number of shares of common stock requested under the Long-Term Incentive Plan, assuming the potential for maximum achievement of performance goals under performance-based awards. However, future circumstances may require a change to expected equity grant practices. Our share usage may vary from our historical practice depending on a number of factors, including the size of our workforce, and the share reserve under the Plan could last for a shorter or longer time. Only the number of available shares is amended by this amendment. The other terms and