Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 558

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 2
Chunk 558
---
     27,226 

    (1)
    Mr.
    Bronson began his term as a director on August 14, 2024.
  
    (2)
    Ms.
    Graebner began her term as a director on October 18, 2024.
  
    (3)
    Mr.
    Wong began his term as a director on October 7, 2024.

Each
person who served as a member of our board of directors during fiscal 2025 held the following aggregate number of shares of our common
stock subject to outstanding stock options as of March 31, 2025.

    Name 
    Number
    of shares Underlying Stock Options Held on March 31, 2025 
  
    Joseph Bronson 
     48,000 
  
    Linda Graebner 
     48,000 
  
    Brian Wong 
     48,000 

35

2024
Equity Incentive Plan

On
February 28, 2024, the Company’s board of directors adopted the ZRCN Inc. 2024 Equity Incentive Plan (the “Plan”) initially
reserving 40,000,000 shares of the Company’s common stock for issuance thereunder, provided, that, the shares of
Common Stock issued under the Plan with respect to any exempt awards shall not count against such share limit. Exempt awards include
(i) any awards previously granted by a corporation or other entity acquired by the Company or any of its subsidiaries or with which the
Company or any of its subsidiaries combines by merger or otherwise; (ii) an “employment inducement” award as described in
the applicable stock exchange listing manual or rules; and (iii) any award that is purchased for fair market value (including awards
to be received in lieu of fully vested compensation that is otherwise due). The number of shares of Common Stock available for grant
under the Plan will be automatically increased on the first day of each calendar year beginning with the first January 1 following the
Effective Date and ending with the last January 1 during the initial ten-year term of the Plan, equal to the lesser of (A) five percent
(5%) of the shares of Common Stock outstanding (on an as-converted basis) on the final day of the immediately preceding calendar year
and (B) such lesser number of shares of Common Stock as determined by the Board.

The
Plan became effective on February 28, 2024