Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2679

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9A
Chunk 2679
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 continuing operations acts as the control amount which would cause antidilution. Not included in the computation
of earnings per share, assuming dilution, for the year ended December 31, 2024, were options to purchase 3,245 shares of the Company’s
common stock, 210,312 nonvested restricted stock units, and 2,793,798 outstanding warrants not exercised which excludes penny warrants
that can be potentially exercised. These potentially dilutive items were excluded because the calculation of incremental shares resulted
in an anti-dilutive effect.

Not
included in the computation of earnings per share, assuming dilution, for the year ended December 31, 2023, were options to purchase
52,393 shares of the Company’s common stock, 9,612 nonvested restricted stock units, 1,148,269 outstanding warrants not exercised.

12. Stock Based Compensation

Stock-based
incentive awards are provided to employees and directors under the terms of the Company’s 2012 Equity Incentive Plan (the “2012
Plan”), which was amended and restated as of October 20, 2016, the 2014 Equity Incentive Plan (the “2014 Plan”), the
2021 Stock Incentive Plan (the “2021 Plan”), which was amended and restated effective as of October 29, 2021, May 27, 2022,
and March 10, 2023, respectively, and the 2023 Stock Incentive Plan (the “2023 Plan”), which was amended and restated effective
as of June 29, 2023, (collectively, the “Plans”). Awards under the Plans have generally included at-the-money options and
restricted stock grants.

2023
Plan

The
2023 Plan was adopted by the Board on February 10, 2023 and approved by the stockholders on March 10, 2023. The 2023 Plan sets the number
of shares of our Common Stock reserved for issuance thereunder, on a quarterly basis, to 9.75% of the shares of our Common Stock outstanding
on the measurement date. Subject to certain adjustments as provided in the 2023 Plan, the maximum aggregate number of shares of our Common
Stock that may be issued under the 2023 Plan (excluding the number of shares of our Common Stock subject to Specified Awards (as defined
below)) (i) pursuant to the exercise of