Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 405

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 405
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 the capital stock of the Post-Closing Company or of any parent corporation or subsidiary corporation of the Post-Closing Company; or (2) holds rights to purchase stock under all of the Post-Closing Company’s employee stock purchase plans that accrue at a rate which exceeds $25,000 worth of stock for each calendar year during which his or her right to purchase shares is outstanding at any time. As of September 30, 2025, PlusAI had approximately 176 employees (including five officers, of which two are employee members of the PlusAI Board), all of whom are currently anticipated to be eligible to participate in the ESPP once it becomes effective and provided they remain employees of the Post-Closing Company or its parents or subsidiaries. Any CCIX employees or service providers are expected to terminate their services with CCIX no later than the consummation of the business combination, and therefore are not expected to be eligible to participate in the ESPP.

Participants may end their participation at any time during an offering period (subject to administrative deadlines set for the offering period) and will be paid their accrued contributions that have not yet been used to purchase shares of Post-Closing Company Class A common stock. Participation ends automatically upon termination of employment with the Post-Closing Company (or its participating subsidiaries).

Offering Periods and Purchase Periods

The ESPP will include a component (the “423 Component”) that is intended to qualify as an “employee stock purchase plan” under Code Section 423, and a component that does not comply with Code Section 423 (the “Non-423 Component”). The Non-423 Component will provide for substantially the same benefits as the 423 Component, except that the Non-423 Component may include features necessary to comply with applicable non-U.S. laws pursuant to rules, procedures or sub-plans adopted by the administrator. For purposes of this summary, a reference to the ESPP generally will mean the terms and operations of the 423 Component.

The ESPP will provide for offering periods with a duration and start and end dates as determined by the administrator, provided that no offering period will have a duration exceeding 27 months. Unless determined otherwise by the administrator, each offering period will have one purchase period with the same duration as the offering period. The administrator is authorized to change the duration of future offering periods and purchase periods under the ESPP, including the starting and ending dates of offering periods and purchase periods and the number of purchase periods in any offering period. Unless determined otherwise by the administrator and to the extent