Company: SUNE
Filing Date: 2025-11-12
Form Type: PRE 14A
Source: 0001140361-25-041549
Chunk: 47

Company: SUNation Energy, Inc.
Filing Date: 2025-11-12
Form: PRE 14A
Chunk 47
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 reported by such principal securities market. The closing sale price of our common stock on June 30, 2025 was $1.58 per share. The total purchase price of the shares to be purchased upon exercise of an option will be paid by the participant in cash or in such other manner as the Committee may permit, including by payment under a broker-assisted sale and remittance program, by withholding shares otherwise issuable to the participant upon exercise of the option or by delivery to the company of shares (by actual delivery or attestation) already owned by the participant (in either case, such shares having a fair market value as of the date the option is exercised equal to the purchase price of the shares being purchased). An option will vest and become exercisable at such time, in such installments and subject to such conditions as may be determined by the Committee, and no option may have a term greater than 10 years from its date of grant. No dividends or dividend equivalents may be paid or credited with respect to shares subject to an option award. The aggregate fair market value of shares of our common stock with respect to which incentive stock options granted to any participant may first become exercisable during any calendar year may not exceed $100,000. Any incentive stock options that become exercisable in excess of this amount will be treated as nonqualified stock options. Pursuant to the Plan Amendments, the maximum number of shares that may be issued upon the exercise of incentive stock option awards under the 2022 Equity Incentive Plan shall be equal to: (a) 1,000,067 Shares, plus (b) any additional shares that become available for issuance under the 2022 Equity Incentive Plan pursuant to the annual share increase, subject, in each case, to adjustment as provided in the 2022 Equity Incentive Plan. However, in no event shall the aggregate number of shares that may be issued pursuant to incentive stock options exceed 25,000,000 shares, unless such higher number is approved by the Company’s stockholders within the meaning of Section 422 of the Internal Revenue Code. For the avoidance of doubt, the number of shares reserved for incentive stock options may increase each year in connection with the 2022 Equity Incentive Plan’s annual share reserve increase, but only to the extent that the Board does not act to reduce or eliminate such increase. Stock Appreciation Rights. A SAR award provides the right to receive a payment from us, in the form of shares of our common stock, cash or