Company: SCLXW
Filing Date: 2025-11-07
Form Type: DEF 14A
Source: 0001193125-25-272322
Chunk: 15

Company: Scilex Holding Co
Filing Date: 2025-11-07
Form: DEF 14A
Chunk 15
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. Repricing Date, New Exercise Price and Effective Date The Option Repricing will occur on the date on which our stockholders approve the Option Repricing Proposal (the “Repricing Date”), subject to the Eligible Participant’s continued employment or service with us through the Repricing Date. Each Eligible Option will have an exercise price per share equal to the fair market value of our Common Stock (as determined in accordance with the 2022 Plan) on the Repricing Date (the “New Exercise Price”), which will be the closing price of a share of our Common Stock, as reported on Nasdaq, on the Repricing Date. The New Exercise Price will be effective as of the Repricing Date. Effect on Other Terms of the Eligible Options Except for the New Exercise Price, the Eligible Options will continue to have the same terms as such options had prior to the Option Repricing, including, without limitation, the number of shares subject to such options, vesting schedule and expiration date, and the Eligible Options will continue to be governed by the terms and conditions of the 2022 Plan and the option agreement pursuant to which such option was granted. However, as described further below in “Tax Consequences,” the Option Repricing will affect whether Eligible Options that were incentive stock options will continue to qualify as incentive stock options after the Option Repricing, as well as the tax treatment of dispositions of shares acquired upon exercise of incentive stock options that are repriced. 9

Tax Consequences

The following is a summary of the anticipated material U.S. federal income tax consequences of the Option Repricing as well as a general overview of the
U.S. federal income tax consequences associated with incentive stock options and non-statutory stock options.

Effect of Option Repricing. The Option Repricing will not result in an Eligible Participant’s recognition of income for U.S. federal
income tax purposes and we will not be entitled to a tax deduction as a result of the Option Repricing. However, the repricing of Eligible Options that are incentive stock options for federal income tax purposes may affect whether all of the
Eligible Options will continue to qualify as incentive stock options for tax purposes, as well as the tax treatment of shares acquired upon exercise of an incentive stock option.

Incentive Stock Options. A participant will not recognize taxable income on the grant or exercise of an incentive stock option. A participant
will recognize taxable income when he or she disposes of the shares of our Common Stock acquired under the incentive stock