Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 511

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 511
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AI will not grant any new or additional awards under the 2017 Plan following the Closing. However, the 2017 Plan will continue to govern the terms and conditions of the outstanding awards previously granted under the 2017 Plan until termination of such awards.

2021 Plan

PlusAI’s 2021 Plan was adopted by the PlusAI Board on May 10, 2021, was approved by PlusAI’s stockholders on May 10, 2021, has been amended from time to time, and was assumed by PlusAI in the Restructuring. The 2021 Plan provides for the grant of stock options, share awards of restricted and unrestricted Shares, and restricted stock units to employees, officers or directors of PlusAI or any affiliate of PlusAI, provided that (1) doing so would not adversely affect PlusAI’s ability to rely on certain securities law exemptions with respect to the 2017 Plan or compliance with applicable laws, any consultant or advisor who renders or has rendered bona fide services to PlusAI or any affiliate of PlusAI, and (2) any incentive stock options within the meaning of Section 422 of the Code are granted only to employees of PlusAI or any affiliate of PlusAI.

At the Effective Time, pursuant to the terms of the Merger Agreement, CCIX will assume all outstanding and unvested restricted stock unit awards and outstanding and unexercised stock options granted under the 2021 Plan, as further described in the section of this proxy statement/prospectus entitled “Proposal No. 1 — General — Treatment of PlusAI Options, PlusAI RSUs and PlusAI Warrants.”

In connection with the Closing, the 2021 Plan will be assumed, and PlusAI will not grant any new or additional awards under the 2021 Plan following the Closing. The 2021 Plan will continue to govern the terms and conditions of the outstanding awards previously granted under the 2021 Plan until termination of such awards. The material terms of the 2021 Plan are summarized below.

As of September 30, 2025, restricted stock unit awards covering 133,669,980 Shares and 19,000,000 Shares subject to stock options were outstanding under the 2021 Plan and there were no outstanding awards of restricted stock under the 2021 Plan.

Authorized Shares. Subject to the adjustment provisions in the 2021 Plan, the maximum aggregate number of shares that may be issued under the 2021 Plan is 223,879,487 Shares.