Company: NCL
Filing Date: 2025-01-29
Form Type: S-1/A
Source: 0001575872-25-000097
Chunk: 71

Company: Northann Corp.
Filing Date: 2025-01-29
Form: S-1/A
Chunk 71
---
4. On November
7, 2024, as approved by the board of directors of the Company and as agreed by Lin Li, the Company rescinded these 5,000,000 shares of
Series A Preferred Stock, effective as of June 22, 2024. As a result, the number of shares of Series A Preferred Stock owned by Lin Li
decreased from 10,000,000 to 5,000,000, representing all issued and outstanding shares of Series A Preferred Stock of the Company. Each
share of Series A Preferred Stock is entitled to ten votes on any matter on which action of the stockholders of the Company is sought.
As part of the cancellation, the Company returned the $5,000 previously paid by Lin Li.

Series A Preferred Stock

We have one designated class of preferred stock known
as Series A Preferred Stock. Each share of Series A Preferred Stock entitles the holder to ten votes, in person or proxy, on any matter
on which action of the stockholders of the corporation is sought. The Series A Preferred Stock will vote together with the common stock.
The holders of Series A Preferred Stock shall not be entitled to receive dividends of any kind. The Series A Preferred Stock shall not
be subject to conversion into common stock or other equity authorized to be issued by the Company.

Reserve Stock Split

On July 5, 2023, as approved by the board of directors
and the majority shareholder of the Company, the Company effected a reverse split of our outstanding common stock and Series A Preferred
Stock at a ratio of 2-for-1. All references to common stock, Series A Preferred Stock, share data, per share data, and related information
have been retroactively adjusted, where applicable, in this prospectus to reflect the reverse split of our issued and outstanding common
stock and Series A Preferred Stock as if these events had occurred at the beginning of the earliest period presented.

Listing of Common Stock

We listed our common stock on the NYSE American
under the symbol “NCL”.

Transfer Agent and Registrar

The transfer agent for our common stock is VStock
Transfer LLC. The address is 18 Lafayette Pl, Woodmere, NY 11598. The telephone number is (212) 828-8436.

| 34 |

<div align='center'>EXECUTIVE COMPENSATION</div>

Executive Compensation Table

The following summary
compensation table sets forth the compensation earned by our named executive officers during the last two