Company: SACH
Filing Date: 2025-04-30
Form Type: DEF 14A
Source: 0001104659-25-042273
Chunk: 46

Company: Sachem Capital Corp.
Filing Date: 2025-04-30
Form: DEF 14A
Chunk 46
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 repricing of any outstanding stock option or SAR awards without the prior approval of our shareholders. Specifically, without prior approval of our shareholders, the Company may not (a) reduce the per share exercise price of an option or base amount of a SAR, (b) cancel, surrender, replace or otherwise exchange any outstanding option or SAR where the fair market value of the Common Shares underlying such option or SAR is less than its per share exercise price or base amount for a new stock option or SAR, another award, cash, shares or other securities or (c) take any other action that is considered a “repricing” for purposes of the shareholder approval rules of the applicable securities exchange or inter-dealer quotation system on which the our Common Shares are listed or quoted. 28 Stock Options . The 2025 Plan will allow for the grant of non-qualified stock options and ISOs as defined in Section 422 of the Code. ISOs may be granted only to employees. Non-qualified stock options may be granted to employees, directors and consultants. The exercise price of all options granted under the 2025 Plan must at least be equal to the fair market value of our Common Shares on the date of grant (except in the case of assumptions or substitutions of stock options occurring in connection with a corporate transaction), and the term of an option granted under the 2025 Plan may not exceed ten years, except that with respect to any employee who owns more than 10% of the voting power of all classes of our outstanding capital stock or any parent or subsidiary corporation as of the grant date, the term of an ISO must not exceed five years, and the exercise price must equal at least 110% of the fair market value on the grant date. After the service of an employee, director or consultant terminates, the option may be exercised, to the extent vested, for the period of time specified in the option agreement. However, an option may not be exercised later than the expiration of its term. Stock Appreciation Rights (SARs) . The 2025 Plan will allow for the grant of SARs. SARs allow the recipient to receive the appreciation in the fair market value of our Common Shares between the date of grant and the exercise date. The administrator will determine the terms of SARs, including when such rights become exercisable and whether to pay the increased appreciation in cash or with our Common Shares, or a combination thereof, except that the base appreciation amount for the cash or shares to be issued pursuant to the exercise of an SAR