Company: EDSA
Filing Date: 2025-04-04
Form Type: DEF 14A
Source: 0001171843-25-002028
Chunk: 55

Company: Edesa Biotech, Inc.
Filing Date: 2025-04-04
Form: DEF 14A
Chunk 55
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 amended (the “Code”), to 300,000 shares.

A copy of the amendment is attached hereto as Appendix A. Under the 2019 Plan, we are authorized to grant options, restricted shares and restricted share units (RSUs) (collectively, “awards”) to any of our officers, directors, employees, consultants and other service providers and those of our subsidiaries and other designated affiliates. The 2019 Plan was originally adopted by our Board on October 16, 2019 and approved by our shareholders on October 22, 2019 and subsequently amended by our Board effective as of March 1, 2021, March 1, 2023 and March 20, 2024. Each of the March 1, 2021, March 1, 2023 and March 20, 2024 amendments were approved by our shareholders.

Our Board believes that the continued growth of Edesa depends, in large part, upon our ability to attract, motivate, retain and reward high-quality executives and other employees, officers, directors, consultants and other persons who provide services to us by enabling such persons to acquire or increase a proprietary interest in the Company in order to strengthen the mutuality of interests between such persons and our shareholders, and providing such persons with performance incentives to expend their maximum efforts in the creation of shareholder value.

Previously, our Board and shareholders approved the 2019 Plan which, as amended, authorized a total of 800,000 shares for issuance to eligible participants, plus any shares remaining available for delivery under the 2019 Plan as of March 20, 2024 (the “2019 Plan Share Reserve”). As of March 18, 2025 only 84,955 shares remained available for future grants under the 2019 Plan. Accordingly, to ensure that we may continue to attract, motivate, retain and reward executives, officers, directors and other service providers who are expected to contribute to our success, on March 18, 2025, our Board approved an amendment to the 2019 Plan to (i) increase the 2019 Plan Share Reserve by 1,725,000 shares, (ii) remove the 2019 Plan’s fungible share pool provisions and (iii) increase the number of shares issuable under the 2019 Plan as ISOs to 300,000 shares. Under the 2019 Plan’s fungible share pool provisions, each share subject to an award other than an option (referred to as