Company: CCIXW
Filing Date: 2025-12-05
Form Type: S-4/A
Source: 0001193125-25-309933
Chunk: 506

Company: Churchill Capital Corp IX/Cayman
Filing Date: 2025-12-05
Form: S-4/A
Chunk 506
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holders on February 15, 2017, has been amended from time to time, and was assumed by PlusAI in the Restructuring. The 2017 Plan provides for the grant of stock options and the direct award or sale of shares of PlusAI Class A common stock (“Shares”) to employees, officers or directors of PlusAI or any affiliate of PlusAI and any consultant or advisor (who is a natural person) providing services to PlusAI or any affiliate of PlusAI.

At the Effective Time, pursuant to the terms of the Merger Agreement, CCIX will assume all outstanding and unexercised stock options granted under the 2017 Plan, as further described in the section of this proxy statement/prospectus entitled “Proposal No. 1 — General — Treatment of PlusAI Options, PlusAI RSUs and PlusAI Warrants.”

In connection with the Closing, the 2017 Plan will be assumed, and PlusAI will not grant any new or additional awards under the 2017 Plan following the Closing. The 2017 Plan will continue to govern the terms and conditions of the outstanding awards previously granted under the 2017 Plan until termination of such awards. The material terms of the 2017 Plan are summarized below.

As of September 30, 2025, stock options covering 67,218,135 Shares were outstanding under the 2017 Plan and there were no outstanding unvested awards of restricted stock under the 2017 Plan.

Authorized Shares. Subject to the adjustment provisions in the 2017 Plan, the maximum aggregate number of shares that may be issued under the 2017 Plan is 156,593,189 Shares. Prior to the termination of the 2017 Plan, (1) in the event that Shares previously transferred or issued under the 2017 Plan are transferred to or acquired or reacquired

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by the trustee holding the Shares or repurchased by PlusAI, such Shares are added to the number of Shares then available for transfer or available for issuance under the 2017 Plan, (2) Shares that are withheld by the trustee or PlusAI in payment of the exercise price, purchase price or tax withholdings remain available for transfer or issuance under the 2017 Plan, and (3) if an option or other right expires, is or becomes unexercisable, the related Shares are added to the number of Shares then available for transfer or issuance under the 2017 Plan.

Plan Administration. The