Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 753

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 753
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 our industries and (ii) long-term incentive compensation in the form of stock-based compensation that is aimed towards encouraging
management to continue to focus on stockholder returns. Our executive compensation program ties a substantial portion of our executives’
overall compensation to key strategic, financial, and operational goals, including: establishing and maintaining customer relationships;
meeting revenue targets and profit and expense targets; growing our assets under management; evolving our AI business; and improving
operational efficiency.

We
believe that potential equity ownership in the Company is important to provide executive officers with incentives to build value for
our stockholders. We believe that equity awards provide executives with a strong link to our short-term and long-term performance while
creating an ownership culture to maintain the alignment of interests between our executives and our stockholders. When implemented responsibly,
we also believe these equity incentives can function as a powerful executive retention tool.

The
Compensation Committee of the Board, consisting entirely of independent directors, administers our compensation plans and policies, including
the establishment of policies that govern base salary as well as short-term and long-term incentives for our executive management team.

Summary
of Cash and Other Compensation

The
following table sets forth the total compensation awarded to, earned by, or paid to, for services rendered in all capacities to the Company
during the fiscal years ended December 31, 2024 and December 31, 2023, our “named executive officers,” as defined in SEC
rules.

SUMMARY
COMPENSATION TABLE

    Name and Principal 
       
    Salary  
    Stock Awards  
    All Other Compensation  
    Total 
  
    Position 
    Year  
    ($)  
    ($)(1)  
    ($)(2)  
    ($) 
  
    John Belizaire 

    Chief Executive Officer (3) 
    2024  
     450,000  
     1,718,244(4) 
     13,800  
     2,182,044 

    2023  
     424,815  
     —  
     16,993  
     441,808 

    John Tunison Chief Financial Officer (5) 
    2024  
     263,958  
     528,467(6) 
     8,167  
     800,592 

    Michael Toporek 

    Executive Chairman of the Board and Former Chief