Company: SATLW
Filing Date: 2025-10-21
Form Type: DEF 14A
Source: 0001437749-25-031429
Chunk: 39

Company: Satellogic Inc.
Filing Date: 2025-10-21
Form: DEF 14A
Chunk 39
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 recognition of income).

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Other Awards. In the case of an exercise of an SAR or an award of restricted stock units, phantom stock units, a performance share bonus, performance share units, or other stock awards, the participant would generally recognize ordinary income in an amount equal to any cash received and the fair market value of any shares received on the date of payment or delivery. In that taxable year, we would receive a federal income tax deduction in an amount equal to the ordinary income that the participant has recognized.

Section 409A. Section 409A of the Code provides special tax rules applicable to programs that provide for a deferral of compensation. Failure to comply with those requirements will result in accelerated recognition of income for tax purposes along with an additional 20% penalty tax. While certain awards under the Amended Incentive Plan could be subject to Section 409A, the Amended Incentive Plan and award agreements have been drafted to comply with the requirements of Section 409A.

Golden Parachute Payments. A participant The Company’s ability (or the ability of one of our subsidiaries) to obtain a deduction for future payments under the Amended Incentive Plan could also be limited by the golden parachute rules of Section 280G of the Code, which prevent the deductibility of certain excess parachute payments made in connection with a change in control of an employer-corporation. In addition, participants may be subject to a 20% excise tax under Section 4999 of the Code in respect of the foregoing excess parachute payments.

Reasonable Compensation. For the amounts described above to be deductible by the Company, such amounts must constitute reasonable compensation for services rendered or to be rendered and must be ordinary and necessary business expenses.

Compensation of Covered Employees. Our ability to obtain a deduction for amounts paid under the Amended Incentive Plan could be limited by Section 162(m) of the Code. Section 162(m) of the Code limits our ability to deduct compensation, for federal income tax purposes, paid during any year to a “covered employee” (within the meaning of Section 162(m) of the Code) in excess of $1,000,000.

New Plan Benefits

All future awards to directors, executive officers, and employees will be made at the discretion of the Compensation Committee. Therefore, we cannot determine future benefits for any other awards under the Amended Incentive Plan at this time. The table below shows the grant date fair values of stock-based awards made