Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2520

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 2520
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 (as defined
below)) (i) pursuant to the exercise of stock options, (ii) as unrestricted or restricted Common Stock, and (iii) in settlement of RSUs
shall be limited to, beginning with the first quarter of our fiscal year ending December 31, 2023 (or January 1, 2023), 9.75% of the
number of shares of our Common Stock outstanding as of the first trading day of each quarter . Subject to certain adjustments as provided
in the 2023 Plan, (i) shares of our Common Stock subject to the 2023 Plan shall include shares of our Common Stock which revert back
to the 2023 Plan in a prior quarter pursuant to the paragraph below, and (ii) the number of shares of our Common Stock that may be issued
under the 2023 Plan may never be less than the number of shares of our Common Stock that are then outstanding under (or available to
settle existing) 2023 Plan Award grants.

On
June 29, 2023, at the Annual Shareholder Meeting, the Amended and Restated 2023 Stock Incentive Plan was approved. The Amended and Restated
2023 Plan, among other things, increased the number of shares of our Common Stock reserved for issuance thereunder, on a quarterly basis,
to 23.75% of the shares of our Common Stock outstanding on the measurement date. Subject to certain adjustments as provided herein, the
maximum aggregate number of Common Shares that may be issued hereunder (excluding the number of Common Shares subject to Specified Awards
(as hereinafter defined)) (i) pursuant to the exercise of Options, (ii) as unrestricted Common Shares or Restricted Stock, and (iii)
in settlement of RSUs shall be limited to, beginning with the third quarter of our fiscal year ending December 31, 2023 (or July 1, 2023),
23.75% of the number of Common Shares outstanding as of the first trading day of each quarter. Subject to certain adjustments as provided
herein, (A) Common Shares subject to this Plan shall include Common Shares which reverted back to this Plan in a prior quarter, and (B)
the number of Common Shares that may be issued under this Plan may never be less than the number of Common Shares that are then outstanding
under (or available to settle existing) Awards. For purposes of determining the number of Common Shares available under this Plan, Common
Shares