Company: ANY
Filing Date: 2025-04-17
Form Type: DEF 14A
Source: 0001628280-25-018222
Chunk: 44

Company: Sphere 3D Corp.
Filing Date: 2025-04-17
Form: DEF 14A
Chunk 44
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 purchase common shares, the number of common shares that such holders may purchase upon exercise of such options will decrease, and the exercise prices of such options will increase, in proportion to the fraction by which the number of common shares underlying such options are reduced as a result of the Consolidation. Corresponding adjustments will be made to outstanding awards of restricted stock units to reduce the number of common shares subject to such awards

#### Potential Anti-Takeover Effect
This Consolidation Proposal, if adopted and implemented, will result in a relative increase in the number of authorized but unissued common shares vis-à-vis the outstanding common shares and could, under certain circumstances, have an anti-takeover effect. For example, the issuance of a large block of common shares could dilute the share ownership of a person seeking to effect a change in the composition of the Board or contemplating a tender offer or other transaction for the combination of the Company with another company. However, the Consolidation Proposal providing for the Consolidation is not being proposed in response to any effort of which the Company is aware to accumulate common shares or obtain control of the Company, nor is it part of a plan by management to recommend to the Board and shareholders a series of amendments to the Company’s Articles. Other than the Consolidation Proposal for the Consolidation, the Board does not currently contemplate recommending the adoption of any other amendments to the Company’s Articles that could be construed to reduce or interfere with the ability of third parties to take over or change the control of the Company.

#### Fractional Shares
To avoid having any fractional common shares (i.e., less than one full common share) outstanding as a result of the Consolidation, no fractional shares will be issued in connection with the Consolidation. Instead, the Company will issue one full share of the post-Consolidation common shares to any shareholder who would have been entitled to receive a fractional share as a result of the process. Each holder of common shares will hold the same percentage of the outstanding common shares immediately following the Consolidation as that shareholder did immediately prior to the Consolidation, except for minor adjustments due to the additional net share fraction that will need to be issued as a result of the treatment of fractional shares.

#### No Going Private Transaction
Notwithstanding the decrease in the number of outstanding common shares following the Consolidation, the Board does not intend for this transaction to be the first step in a “going private transaction” within the meaning of Rule 13e-3 of the Exchange Act.

#### No Appraisal or Dissenter’s