Company: IMNN
Filing Date: 2025-05-30
Form Type: PRE 14A
Source: 0001641172-25-013068
Chunk: 66

Company: Imunon, Inc.
Filing Date: 2025-05-30
Form: PRE 14A
Chunk 66
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 approved, our ability to align the interests of key employees with stockholders through equity-based compensation would be compromised, disrupting our compensation program, and impairing our ability to recruit and retain key employees. The Board of Directors recommends approval of the proposed 2018 Plan amendment for the following reasons:

| ● | To                                                                                                                                  
 align the interests of our stockholders and recipients of awards under the 2018 Plan by increasing the proprietary interest of such 
 recipients in our growth and success;                                                                                               |
| ● | To                                                                                                                                  
 advance our interests of the Company by attracting and retaining non-employee directors, officers, other employees, consultants,    
 independent contractors, and agents; and                                                                                            |
| ● | To                                                                                                                                  
 motivate such persons to act in the long-term best interests of the Company and its stockholders.                                   |

We consider equity and equity-based compensation to be a key component of our compensation program and believe that it is essential to attract, motivate, and retain talented, experienced, and committed employees and to incentivize our employees to achieve our short- and long-term goals. On February 12, 2018, the Board of Directors, upon the recommendation of the Compensation Committee, adopted the IMUNON, INC. 2018 Stock Incentive Plan which later was approved by our stockholders at the 2018 Annual Meeting on May 15, 2018. The 2018 Plan replaced our 2007 Stock Incentive Plan (the “2007 Plan”). The 2018 Stock Incentive Plan constitutes the only plan we currently utilize to provide equity and equity-based incentive compensation to eligible employees, consultants, and directors.

Historical Company Equity Usage.We believe that our historic equity usage has been reasonable in light of competitive considerations and the potential dilutive impact of equity award grants on our stockholders. Our average three-year “run rate” was 6.6% as a percentage of weighted common shares outstanding which compares favorably to the non-Russell 3000 Index (Pharmaceuticals, Biotechnology & Life Science) mean run rate of 8.6% for that same three-year period (with the run rate in each case calculated the number of shares subject to stock options and other equity awards granted during that period). We do not currently anticipate that our future annual long-term incentive grants will significantly exceed this run rate. As noted above, the number of shares of common stock currently available for future grants under the 2018 Plan is only 223,522 shares, demonstrating our need for additional