Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 670

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 670
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 awards vested immediately, 3,302,485 of the restricted stock awards vest at separation from the Company, 690,223
of the restricted stock awards vest 33% on June 1, 2024, 33% on June 1, 2025 and 34% on June 1, 2026, 334,289 of the restricted stock
awards vest 33% on June 1, 2025, 33% on June 1, 2026 and 34% on June 1, 2027, 14,505 of the restricted stock awards vest on June 1, 2025,
14,894 of the restricted stock award vest on June 1, 2026, 1,710 of the restricted stock awards vest on June 1, 2027, 462,212 of the
restricted stock awards vest 33% on September 1, 2025, 33% on September 1 , 2026 and 34% on September 1, 2027, 264,000 of the restricted
stock awards vest 33% on December 1, 2024, 33% on December 1 , 2025 and 34% on December 1, 2026, and 467,388 of the restricted stock
awards vest 33% on December 1, 2025, 33% on December 1 , 2026 and 34% on December 1, 2027.

On
April 15, 2024, a modification related to the cancellation of 48,547
underwater stock options was granted to eight board members. The options were replaced with new awards of restricted stock. The
amount of incremental compensation cost resulting from the modification was approximately $4.0
million. There were no other modifications during the year ended December 31, 2024.

During
the fiscal year ended December 31, 2023, the Company did not issue any equity awards under its 2023 Plan.

During
the fiscal year ended December 31, 2023, the Company did not issue any restricted stock awards or options under the 2021 Plan.

During
the fiscal year ended December 31, 2023, the Company awarded 20,000 restricted stock units under the 2021 Plan, valued at $7.47 per share
based on the closing market price of the Company’s common stock on the