Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1351

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 4
Chunk 1351
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 Future director compensation
will be determined by the Compensation Committee. Directors who are also our employees, in particular Mr. Toporek, Mr. Belizaire, and
partially Mr. Michaels for his time served as Interim CFO, are not compensated for serving on the Board. There were no changes for the
fiscal year 2024.

The
following table details the total compensation of the Company’s non-employee directors for the fiscal year ended December 31, 2024.

    Fees Earned or Paid in Cash  
    Stock awards  
    Stock options  
    Total 
  
    Name 
    ($)  
    ($)(1)  
    ($)(2)  
    ($) 
  
    John Bottomley 
     35,000  
     413,537(3) 
     -  
     448,537 
  
    William Hazelip 
     20,000  
     413,537(4) 
     -  
     433,537 
  
    Edward R. Hirshfield 
     20,000  
     413,537(5) 
     -  
     433,537 
  
    Matthew E. Lipman 
     35,000  
     413,537(6) 
     -  
     448,537 
  
    Thomas J. Marusak 
     35,000  
     538,898(7) 
     -  
     573,898 
  
    David C. Michaels 
     14,583  
     538,898(8) 
     -  
     553,481 
  
    William P. Phelan 
     60,000  
     929,519(9) 
     -  
     989,519 

73

  (1)
  Represents the aggregate grant date fair value for grants made
in 2024 computed in accordance with FASB ASC Topic 718. This calculation does not give effect to any estimate of forfeitures related
to service-based vesting, but assumes that the director will perform the requisite service for the award to vest in full.

    (2)
    There
    were no stock options granted to the members of the Board for the fiscal year ended December 31, 2024. The aggregate number of shares
    of Common Stock underlying stock options outstanding as of