Company: SLNH
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010886
Chunk: 154

Company: Soluna Holdings, Inc
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 154
---
the 2023 Plan, (i) shares of our Common Stock subject to the 2023 Plan shall include shares of our Common Stock which revert back to the
2023 Plan in a prior quarter pursuant to the paragraph below, and (ii) the number of shares of our Common Stock that may be issued under
the 2023 Plan may never be less than the number of shares of our Common Stock that are then outstanding under (or available to settle
existing) 2023 Plan Award grants.

    27

On June 29, 2023, at the Annual Shareholder Meeting,
the Amended and Restated 2023 Stock Incentive Plan was approved. The Amended and Restated 2023 Plan will, among other things, increase
the number of shares of our Common Stock reserved for issuance thereunder, on a quarterly basis, to 23.75% of the shares of our Common
Stock outstanding on the measurement date. Subject to certain adjustments as provided herein, the maximum aggregate number of shares of
common stock that may be issued hereunder (excluding the number of shares of common stock subject to Specified Awards (as hereinafter
defined)) (i) pursuant to the exercise of Options, (ii) as unrestricted shares of common stock or Restricted Stock, and (iii) in settlement
of RSUs shall be limited to, beginning with the third quarter of our fiscal year ending December 31, 2023 (or July 1, 2023), 23.75% of
the number of shares of common stock outstanding as of the first trading day of each quarter. Subject to certain adjustments as provided
herein, (A) shares of common stock subject to this Plan shall include shares of common stock which reverted back to this Plan in a prior
quarter, and (B) the number of shares of common stock that may be issued under this Plan may never be less than the number of shares of
common stock that are then outstanding under (or available to settle existing) Awards. For purposes of determining the number of shares
of common stock available under this Plan, shares of common stock withheld by the Company to satisfy applicable tax withholding or exercise
price obligations pursuant to Section 10(e) of this Plan shall be deemed issued under this Plan. In the event that, prior to the date
this Plan shall terminate, any Award granted under this Plan expires unexercised or unvested or is terminated, surrendered or cancelled
without the delivery of