Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 2522

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 2522
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 to June 30, 2022, fifteen percent (15%) of the number of Shares outstanding on January 3, 2022,
which was the first trading day of 2022, and (C) beginning with the third quarter of the Company’s fiscal year ending December
31, 2022 (the “2022 Fiscal Year”), fifteen percent (15%) of the number of Shares outstanding as of the first trading day
of each quarter, net of any Shares awarded in the previous quarter(s). Subject to certain adjustments as provided in the 2021 Plan, (i)
shares subject to the 2021 Plan shall include shares reverted back to the Company pursuant the 2021 Plan in a prior year or quarter,
as applicable, as provided herein and (ii) the number of shares that may be issued under the 2021 Plan may never be less than the number
of shares that are then outstanding under (or available to settle existing) Awards. For purposes of determining the number of shares
available under the 2021 Plan, shares withheld by the Company to satisfy applicable tax withholding or exercise price obligations pursuant
to the 2021 Plan shall be deemed issued under this Plan. In the event that, prior to the date on which the 2021 Plan shall terminate,
any Award granted under the 2021 Plan expires unexercised or unvested or is terminated, surrendered, or cancelled without the delivery
of shares of common stock, or any Awards are forfeited back to the Company, then the shares of common stock subject to such Award may
be made available for subsequent Awards under the terms of the 2021 Plan.

On
March 10, 2023, at the Special Shareholder Meeting, the Third Amended and Restated 2021 Stock Incentive Plan was approved. The Third
Amended and Restated 2021 Plan, among other things, (a) increased the number of shares of our Common Stock reserved for issuance thereunder,
on a quarterly basis, to 18.75% of the shares of our Common Stock outstanding on the measurement date and (b) allows us to grant awards
of shares of our 9.0% Series A Cumulative Perpetual Preferred Stock (“Series A Preferred Stock”) (with and without restrictions).
Subject to certain adjustments as provided in the Third Amended and Restated 2021 Plan, the maximum aggregate number of shares of our
Common Stock that may be issued under the Third Amended and Rest