Company: ACTG
Filing Date: 2025-03-28
Form Type: PRE 14A
Source: 0000934549-25-000010
Chunk: 43

Company: ACACIA RESEARCH CORP
Filing Date: 2025-03-28
Form: PRE 14A
Chunk 43
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 value of the excess shares on the date of the prohibited transfer), and the balance of the proceeds, if any, will be transferred to a charitable beneficiary; and

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• in the case of a prohibited transfer that does not involve a transfer of our securities within the meaning of Delaware law but that would cause a person to violate the 4.899% ownership threshold, such Person whose ownership of our securities is attributed to such proscribed Person will be deemed to have disposed of (and will be required to dispose of) sufficient securities, simultaneously with the transfer, to cause such proscribed Person not to be in violation of the 4.899% ownership thresholds described above, and such securities will be treated as excess shares to be disposed of through the agent under the provisions summarized above, with the maximum amount payable to such stockholder that was the direct holder of such excess shares from the proceeds of sale by the agent being the fair market value of such excess shares at the time of the prohibited transfer.

To the extent permitted by law, any stockholder who knowingly violates the Existing Protective Provisions, and any Persons controlling, controlled by or under common control with such stockholder, will be liable for any and all damages we suffer as a result of such violation, including damages resulting from any limitation in our ability to use our NOLs and any professional fees incurred in connection with addressing such violation.

Modification and Waiver of Transfer Restrictions. Our Board will have the discretion to approve a transfer of our common stock that would otherwise violate the transfer restrictions if it determines that (i) the transfer will not result in a limitation on the use of our NOLs under Section 382 of the Code or (ii) the transfer is in our and our stockholders’ best interests even though the transfer may result in an ownership change that could limit our use of our NOLs. In addition, in the event of a change in law, our Board will be authorized to modify the applicable allowable percentage ownership interest threshold (currently 4.899%) or modify any of the definitions, terms and conditions of the transfer restrictions or to eliminate the transfer restrictions by adopting a written resolution that such action is reasonably necessary or advisable to preserve our NOLs or that the continuation of these restrictions is no longer reasonably necessary for such purpose, as applicable. Our stockholders will be notified of any such determination.

#### Implementation and Expiration
We intend to include a legend reflecting the transfer restrictions on certificates representing newly issued or transferred shares, to disclose