Company: MVNC
Filing Date: 2025-01-21
Form Type: DEF 14C
Source: 0001683168-25-000446
Chunk: 31

Company: Marvion Inc.
Filing Date: 2025-01-21
Form: DEF 14C
Chunk 31
---
, performance awards or other stock-based awards. |

Registration with the Securities and Exchange Commission

17,000,000,000 shares of common
stock reserved for issuance under the 2023 Plan were registered on Form S-8 with the Securities and Exchange Commission (the “SEC”)
on September 21, 2023. This number was equitably reduced to 5,666,667 shares of common stock after the Reverse Split.

| 20 |

<div align='center'>STOCKHOLDER ACTION NO. 4

AMENDMENT TO THE 2023 PLAN TO EFFECT AN INCREASE IN THE AUTHORIZED SHARES AVAILABLE FOR ISSUANCE</div>

General

On September 19, 2023,the Board
adopted the 2023 Plan and on December 28, 2024, our Board approved an amendment to the 2023 Plan (the “Plan Amendment”) to
effect an increase in the number of shares that remain available for issuance under the 2023 Plan by an additional 31,408,394 shares up
to an aggregate of 37,075,060 shares available for issuance under the 2023 Plan. The principal terms of the Plan Amendment are summarized
below. This summary is not a complete description of the Plan Amendment, and it is qualified in its entirety by reference to the complete
text of the Plan Amendment which is attached as hereto.

Why We Approved the Plan Amendment

The Board and Voting Stockholders
have determined that it is in the best interests of the Company and its stockholders to approve the Plan Amendment to increase the number
of shares available for issuance under the 2023 Plan by an additional 31,408,394 shares up to an aggregate of 37,075,060 shares available
under the 2023 Plan.

Before the Plan Amendment, the
number of shares available for issuance under the 2023 Plan would be too limited to effectively operate as an incentive and retention
tool for employees, officers, directors, non-employee directors and consultants of the Company and its affiliates (as defined in the 2023
Plan). The 2023 Plan and the approved increase will enable us to continue our policy of equity ownership by employees, officers, directors,
non-employee directors and consultants of the Company and its affiliates as an incentive to contribute to the creation of long-term value
for our stockholders. Absent sufficient equity incentives, we would need to consider additional cash-based incentives to provide a market-competitive
total compensation package necessary to