Company: ABTC
Filing Date: 2025-07-22
Form Type: S-4/A
Source: 0001213900-25-066299
Chunk: 321

Company: American Bitcoin Corp.
Filing Date: 2025-07-22
Form: S-4/A
Chunk 321
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 the Akerna Closing. The 2024 Plan provides for the following grants: (a) ISOs (within the meaning of Section 422 of the Code); (b) NSOs, (c) SARs, (d) restricted stock grants, (e) RSU grants, (f) performance grants and (g) other grants based in whole or in part by reference to shares that are granted pursuant to the terms and conditions of the 2024 Plan. Subject to any Capitalization Adjustment and the automatic increase and any other applicable provisions in the 2024 Plan, the 2024share reserve was originally set at 15% of the total number of the shares of common stock outstanding at the Akerna Closing (the “ 2024 Share Reserve”), subject to a discretionary annual increase by the Gryphon Board. As of May 8, 2025, there were 2,122,951shares of Gryphon Common Stockavailable for issuance pursuant to the 2024 Plan. The 2024 Share Reserve will automatically increase on January 1 stof each year, for a period of not more than ten years, commencing on January 1, 2025 and ending on (and including) January 1, 2033 by the lesser of (a) 3% of the total number of the shares of Gryphon Common Stock outstanding on December 31 stof the immediately preceding calendar year and (b) such number of shares determined by the Gryphon Board. Following the effective date of the 2024 Plan (the “ 2024 Plan Effective Date”), any shares subject to an outstanding grant or any portion thereof granted under the 2024 Plan will be returned to the 2024 Share Reserve and will be available for issuance in connection with subsequent grants under the 2024 Plan to the extent such shares: (a) are canceled, forfeited or settled in cash; (b) are used to pay the exercise price of such outstanding grant or any Tax -RelatedItems arising in connection with vesting, exercise or settlement of such outstanding grant; (c) are surrendered pursuant to an Exchange Program; (d) expire by their terms at any time; or (e) are 2024 Returning Shares. Shares subject to Substitute Grants will not be deducted from the Share Reserve and may not be returned to the 2024 Share Reserve as 2024 Returning Shares. For purposes of the 2024 Plan, “ Exchange Program” means a program pursuant to which (a) outstanding grants