Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 145

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 6
Chunk 145
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 the SAR on exercise, and (ii) shares purchased on the open market with the cash
proceeds from the exercise of options.

Awards granted under the 2023 Plan upon the assumption
of, or in substitution for, awards granted by an entity that merges or consolidates with the Company or its subsidiaries prior to such
merger or consolidation will not reduce the shares available for grant under the 2023 Plan but will count against the maximum number of
shares that may be issued upon the exercise of ISOs.

The 2023 Plan provides that the sum of any cash
compensation, other compensation and the aggregate grant date fair value (determined as of the date of the grant under Financial Accounting
Standards Board Accounting Standards Codification Topic 718, or any successor thereto) of all awards granted to a non-employee director
as compensation for services as a non-employee director during any fiscal year may not exceed $250,000.

Eligibility. Directors, employees and consultants
of the Company and the Company’s subsidiaries, as the case may be, are eligible to receive awards under the 2023 Plan; however,
ISOs may only be granted to employees of the Company and the Company’s subsidiaries.

Types of Awards. The 2023 Plan allows for
the grant of awards in the form of: (i) ISOs; (ii) non-qualified options (“ NSOs”); (iii) SARs; (iv) restricted shares; (v)
restricted share units (“ RSUs”); (vi) dividend equivalents; and (vii) other share-based and cash-based awards.

  Options and SARs. The plan administrator may determine the number of shares to be covered by each option and/or SAR, the exercise price and such other terms, conditions, and limitations applica...  

  Restricted Shares. Restricted shares are Ordinary Shares that are subject to certain vesting conditions and other restrictions and are non-transferable prior to vesting. The plan administrator ...  
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  RSUs. RSUs are contractual promises to deliver cash or Ordinary Shares in the future, which may also remain forfeitable unless and until specified conditions are met. The terms and conditions a...  
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  Other Share