Company: LDWY
Filing Date: 2025-09-26
Form Type: PRE 14A
Source: 0001104659-25-093874
Chunk: 28

Company: LENDWAY, INC.
Filing Date: 2025-09-26
Form: PRE 14A
Chunk 28
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 Delaware Secretary of State, which filing is expected to occur promptly following the Annual Meeting. Capitalization Our existing certificate of incorporation authorizes up to 5,714,285 shares of common stock. As of September 26, 2025, the following shares of common stock were issued or reserved for future issuance:

| ● | 1,769,599 shares were issued and outstanding; and |

| ● | 22,945 shares available for issuance under our Employee Stock Purchase Plan; and |

| ● | 79,576 shares available for issuance pursuant to future awards under the 2018 Equity Incentive Plan (the “2018 Plan”). |

As of the same date, no awards were outstanding under the 2018 Plan. Reasons for the Amendment We believe that the additional shares of authorized common stock are necessary to provide our company with appropriate flexibility to utilize equity for financial purposes that our Board of Directors determines to be in our company’s best interests on a timely basis without the expense and delay of a stockholders’ meeting. Our Board of Directors believes that the remaining authorized common stock is not likely to be sufficient to permit us to fund potential business opportunities or to pursue important objectives designed to enhance stockholder value. The additional authorized shares of common stock will also provide our company with flexibility to use our common stock, without further stockholder approval (except to the extent such approval may be required by law or by applicable exchange listing standards) for any other proper corporate purposes, including, without limitation, raising capital through one or more future public offerings or private placements of equity securities, entering into strategic relationships, providing equity-based compensation and/or incentives to employees, officers or directors, and effecting stock dividends or for other general corporate purposes. Although we are party from time to time to various agreements that require the issuance of shares of common stock, including equity compensation arrangements with employees, we currently do not have specific agreements or plans that would require the issuance of the proposed additional shares of common stock. If the Amendment is approved by the stockholders, however, our Board of Directors does not intend to solicit further stockholder approval prior to the issuance of any additional shares of common stock or securities convertible into common stock, except as may be required by applicable law, regulation, or exchange listing rules. Possible Effects of the Amendment The increase in authorized shares of common stock will not have any immediate effect on the rights of existing stockholders. Because the holders of our common stock do not have any preemptive rights, future issuance of shares of common stock or securities exercisable