Company: INV
Filing Date: 2025-10-23
Form Type: S-1
Source: 0001140361-25-039085
Chunk: 124

Company: Innventure, Inc.
Filing Date: 2025-10-23
Form: S-1
Chunk 124
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 set forth in the table above were granted with an exercise price of $12.20, the closing stock price on the date of 
 grant.                                                                                                                         |

The options and RSUs granted to Mr. Otworth and Dr. Scott vested on October 2, 2025. In December 2024, the Compensation Committee also approved a grant of 150,000 SARs (the “Accelsius SARs”) for each of Mr. Otworth and Dr. Scott. The Accelsius SARs each represent the right of the participant to receive a number of shares of Common Stock with a value equal to the appreciation in the value of a Class A Common Unit of Accelsius over a base price of $12.175 (the “Spread”). In general, the Accelsius SARs will be automatically exercised upon the earliest to occur of: (i) the 24-month anniversary of the grant date, (ii) the participant’s death, or (iii) the participant’s “disability” (as defined in the applicable award agreement). On June 25, 2025, each of Mr. Otworth and Dr. Scott entered into an amendment to his Accelsius SAR award (each, a “SAR Amendment”) to (1) clarify that any payment by the Company to the applicable NEO with respect to the Accelsius SARs will be made in the form of shares of Common Stock and (2) provide that the maximum number of shares of Common Stock that may be issued pursuant to each NEO’s Accelsius SAR award is 1,875,000 (the “Share Cap”). Under the SAR Amendments, the Company will not be required to pay either officer any amount in excess of the Share Cap (in the form of either equity or cash), even if the value of the number of shares of Common Stock issued in settlement of the Accelsius SARs is less than the aggregate Spread as a result of the Share Cap. On December 11, 2024, Refinity Holdings granted 109,000 Class PI Units of Refinity Holdings (“Refinity Incentive Units”) to each of our NEOs pursuant to the Refinity Holdings PI Unit Incentive Plan. The Refinity Incentive Units are intended to be “profits interests” for U.S. federal income tax purposes, and holders of Refinity Incentive Units did not have any voting rights with respect to such Refinity Incentive Units except as required by law. The Refinity Incentive Units entitle the holders thereof