Company: ALCE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0001213900-25-105077
Chunk: 54

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 1
Chunk 54
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  15,335   $9,214    4.58   Issued during the period   170,382         2.18   Expired during the period   -    -    -   Outstanding – June 30, 2025   185,717    766.49    6.76   Exercisable – June 30, 2025   185,717   $766.49    6.76  

2023 Equity Incentive Plan

As of December 31, 2024 and June 30, 2025, there
were 11,200 shares of common stock available to be granted under the 2023 Equity Incentive Plan. As of December 31, 2024 and June 30,
2025 no shares were issued or outstanding under the 2023 Equity Incentive Plan.

On March 21, 2025, Mr. Vincent Browne, our CEO
and Interim CFO and shareholder with majority voting rights, representing 91% of the shares entitled to vote, approved an
amendment to the 2023 Equity Incentive Plan (the “Plan Amendment”) as adopted by the Board upon the recommendation of the
Compensation Committee. The Plan Amendment relates to an increase in the number of shares of Common Stock that shall be available for
the grant of awards under the Plan from 11,200 shares of Common Stock, so that the maximum aggregate number of shares of Common Stock
that may be issued under the Plan is increased each fiscal year (the “Adjustment Date”) by an amount equal to the lesser of
(i) that number of shares equal to 15% of the outstanding shares of Common Stock on the applicable Adjustment Date, less (a) the
number of shares of Common Stock that may be issued under the Plan prior to the Adjustment Date, and (b) the number of shares of
Common Stock that may be issued under any other stock option plan of the Company in effect as of the Adjustment Date; or (ii) such
lesser number of shares of Common Stock as may be determined by the Board.

19. Segment and Geographic Information

Effective January 1, 2024,
the Company adopted Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.