Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 963

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 963
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, the number of shares of our Common Stock reserved for issuance under the 2021 Plan shall
    revert to 18.75% of the number of shares of Common Stock outstanding on such date. On the first trading day of each quarter commencing
    July 1, 2023, the number of shares of our Common Stock reserved for issuance under the 2023 Plan shall increase by 23.75% of the
    number of shares of Common Stock outstanding on such date.

Prerequisites
and Other Benefits

Our
executive officers are eligible to participate in similar benefit plans available to all our other employees including medical, dental,
vision, group life, disability, accidental death and dismemberment, paid time off, and 401(k) plan benefits.

We
also maintain a standard directors and officers liability insurance policy with coverage similar to the coverage typically provided by
other small publicly-held technology companies.

Security
Ownership of Certain Beneficial Owners and Management

The
following table sets forth certain information regarding shares of Common Stock beneficially owned as of March 20, 2025, for (i) each
stockholder known to be the beneficial owner of more than 5% of our outstanding shares of Common Stock, (ii) each named executive officer
and director, and (iii) all executive officers and directors as a group. A person is considered to beneficially own any shares over which
such person, directly or indirectly, exercises sole or shared voting or investment power.

75

    Name of Beneficial Owner(2) 
    Number(2)  
    Percent of  Class(1)   
  
    Named Executive Officers 

    Michael Toporek(3) 
     1,180,338  
     9.5%
  
    John Belizaire(4) 
     496,302  
     4.0%
  
    John Tunison(5) 
     156,071  
     1.2%

    Non-Employee Directors 

    Matthew E. Lipman(6) 
     118,977  
     1.0%
  
    William P. Phelan(7) 
     169,657  
     1.4%
  
    Thomas J. Marusak(8) 
     146,843  
     1.2%
  
    Edward R. Hirshfield(9) 
     117,893  
     * %