Company: SIMA
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001213900-25-026255
Chunk: 461

Company: SIM Acquisition Corp. I
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 461
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 its entirety by the terms and conditions
of the Code of Ethics, a copy of which is attached hereto as Exhibit 14 and is incorporated herein by reference.

Trading Policies

On June 27, 2024, we adopted
insider trading policies and procedures governing the purchase, sale, and/or other dispositions of our securities by directors, officers
and employees, which are reasonably designed to promote compliance with insider trading laws, rules and regulations, and applicable Nasdaq
listing standards (the “Insider Trading Policy”).

The
foregoing description of the Insider Trading Policy does not purport to be complete and is qualified in its entirety by the terms and
conditions of the Insider Trading Policy, a copy of which is attached hereto as Exhibit 19 and is incorporated herein by reference.

Compensation Recovery and Clawback Policy

Under the Sarbanes-Oxley Act,
in the event of misconduct that results in a financial restatement that would have reduced a previously paid incentive amount, we can
recoup those improper payments from our executive officers. The SEC has also adopted the SEC Clawback Rule that directs national stock
exchanges to require listed companies to implement policies intended to recoup bonuses paid to executives if the company is found to have
misstated its financial results.

On June 27, 2024, our Board
of Directors approved the adoption of the Executive Compensation Clawback Policy (the “Clawback Policy”), in order to comply
with the final Clawback rules adopted by the SEC under the Rule, and the listing standards, as set forth in Nasdaq Listing Rule 5608 (the
“Nasdaq Clawback Rules”).

The Clawback Policy provides
for the mandatory recovery of erroneously awarded incentive-based compensation from our current and former executive officers as defined
in the SEC Clawback Rule (“Covered Officers”) in the event that we are required to prepare an accounting restatement, in accordance
with the Nasdaq Clawback Rules. The recovery of such compensation applies regardless of whether a Covered Officer engaged in misconduct
or otherwise caused or contributed to the requirement of an accounting restatement. Under the Clawback Policy, our Board of Directors
may recoup from the Covered Officers erroneously awarded incentive compensation received within a lookback period of the three completed
fiscal years preceding the date on which we are required to prepare an accounting restatement.

The
foregoing description of the Clawback Policy does not purport to be complete and is qualified in its entirety by the terms