Company: RAIN
Filing Date: 2025-04-16
Form Type: 10-K
Source: 0001213900-25-032239
Chunk: 113

Company: Rain Enhancement Technologies Holdco, Inc.
Filing Date: 2025-04-16
Form: 10-K
Item: Item 1
Chunk 113
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 approval to amend the 2024 Incentive Plan may be necessary if applicable law or the 2024 Incentive Plan so requires. No amendment,
alteration, suspension, discontinuance or termination will materially and adversely impair the rights of any participant or recipient
of any award without the consent of the participant or recipient. Stockholder approval will not be required for any amendment that reduces
the exercise price of any stock option or SAR, or cancels any stock option or SAR that has an exercise price that is greater than the
then-current fair market value of Class A Common Stock in exchange for cash, other awards or stock options or SARs with an exercise price
per share that is less than the exercise price per share of the original stock options or SARs.

61

Adjustments; Corporate
Transactions. In the event of certain capitalization events or corporate transactions (as set forth in the 2024 Incentive Plan),
including the consummation of a merger or consolidation of Holdco with another corporation, the Committee may adjust the number of shares
of Class A Common Stock or other securities of Holdco (or number and kind of other securities or other property) subject to an award,
the exercise or strike price of an award, or any applicable performance measure, and may provide for the substitution or assumption of
outstanding awards in a manner that substantially preserves the terms of such awards, the acceleration of the exercisability or lapse
of restrictions applicable to outstanding awards and the cancellation of outstanding awards in exchange for the consideration received
by stockholders of Holdco in connection with such transaction.

Item 12. Security Ownership of Certain
Beneficial Owners and Management and Related Stockholder Matters.

The following table sets forth beneficial
ownership of Class A Common Stock and Class B Common Stock by:

    ●
    each person who is known to be the beneficial owner of more than 5% of the outstanding shares of Class A Common Stock or Class B Common Stock;

    ●
    Each of Holdco’s current named executive officers and directors; and

    ●
    All executive officers and directors of Holdco, as a group.

The information below
is based on an aggregate of 7,528,761 shares of Class A Common Stock and 57,752 shares of Class B Common Stock issued and outstanding
as of April 15, 2025. Beneficial ownership is determined according to the rules of the SEC, which generally provide that a person has beneficial
ownership of a security if he