Company: LDWY
Filing Date: 2025-10-06
Form Type: DEF 14A
Source: 0001104659-25-097035
Chunk: 27

Company: LENDWAY, INC.
Filing Date: 2025-10-06
Form: DEF 14A
Chunk 27
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 company’s flexibility to issue shares of common stock for future corporate needs. In consideration of the foregoing, our Board of Directors has unanimously approved the Amendment in substantially the form set forth in Appendix A and recommends that the company’s stockholders do the same. The additional shares of common stock to be authorized by the Amendment would be part of the existing class of common stock and would have rights identical to our current issued and outstanding shares of common stock. Issuance of the additional shares of common stock would not affect the rights of the holders of our issued and outstanding shares of common stock, except for effects incidental to any increase in the number of shares of common stock issued and outstanding, such as dilution of earnings per share and voting rights. We are not seeking to amend any other provisions of our certificate of incorporation in the Amendment. If the Amendment is approved by stockholders at the Annual Meeting, then it will become effective upon filing of a Certificate of Amendment with the Division of Corporations of the Delaware Secretary of State, which filing is expected to occur promptly following the Annual Meeting. Capitalization Our existing certificate of incorporation authorizes up to 5,714,285 shares of common stock. As of September 26, 2025, the following shares of common stock were issued or reserved for future issuance:

| ● | 1,769,599 shares were issued and outstanding; and |

| ● | 22,945 shares available for issuance under our Employee Stock Purchase Plan; and |

| ● | 79,576 shares available for issuance pursuant to future awards under the 2018 Equity Incentive Plan (the “2018 Plan”). |

As of the same date, no awards were outstanding under the 2018 Plan. Reasons for the Amendment We believe that the additional shares of authorized common stock are necessary to provide our company with appropriate flexibility to utilize equity for financial purposes that our Board of Directors determines to be in our company’s best interests on a timely basis without the expense and delay of a stockholders’ meeting. Our Board of Directors believes that the remaining authorized common stock is not likely to be sufficient to permit us to fund potential business opportunities or to pursue important objectives designed to enhance stockholder value. The additional authorized shares of common stock will also provide our company with flexibility to use our common stock, without further stockholder approval (except to the extent such approval may be required by law or by applicable exchange listing standards) for any other proper corporate purposes, including, without limitation, raising capital through one or more future public offerings or private placements