Company: BLNE
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024044
Chunk: 34

Company: Beeline Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 34
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29 options and 34,935 restricted stock units (“RSUs”) fully vested and outstanding under the 2016 Plan. On February 6, 2025,
the 2016 Plan was terminated and replaced with the 2025 Equity Incentive Plan, and on August August 1, 2025 the Board of Directors adopted
the Amended and Restated 2025 Equity Incentive Plan (the “2025 Plan”).

2025
Equity Incentive Plan

On
August 1, 2025, the Company’s Board of Directors adopted the 2025 Plan and authorized the 2025 Plan to be submitted to stockholders
of the Company for approval. The 2025 Plan initially authorizes a number of shares of common stock equal to 15% of the outstanding shares
of common stock on a fully-diluted basis available for award under the 2025 Plan. The 2025 Plan provides for an annual increase to such
available number of shares by 5% of the shares of common stock outstanding on a fully-diluted basis each year for a period of seven years,
with the first such increase to occur on January 1, 2026. The 2025 Plan provides for the issuance of incentive stock options, non-statutory
stock options, share appreciation rights, restricted shares, restricted share units, and other share-based awards.

On
May 28, 2025, the Board of Directors of the Company approved grants of cash and restricted stock to its non-employee directors and stock
options to senior executives. On August 1, 2025 the Board of Directors approved a grant of restricted stock to two former directors for
past services as directors. The equity grants were made under the Company’s 2025 Plan and are subject to shareholder approval of
the 2025 Plan and therefore the grants were not accounted for as of June 30, 2025. The cash grants were not subject to shareholder approval.
The cash awarded to four non-employee directors, in addition to $0.1 million grants of restricted stock units to each of them and one
other non-employee director effective May 1, 2025, is payable quarterly in arrears and subject to continued service. Three board members
elected to receive 100% of the cash awards in shares of restricted common stock at $0.92 per share and one board member elected to receive
50% of the cash in common stock and 50