Company: BFRG
Filing Date: 2025-09-16
Form Type: PRE 14A
Source: 0001493152-25-013736
Chunk: 31

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-09-16
Form: PRE 14A
Chunk 31
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 term, it will seek stockholder approval for any such retention.

The Company desires to have sufficient shares available for incentive and compensation awards to be made under the Plan as it continues to pursue its development activities for advanced artificial intelligence and machine learning (“AI/ML”) driven analysis of complex data sets in medicine and healthcare. The Company’s objective is to utilize its AI/ML platform to provide a precision medicine approach to drug asset enablement through external partnerships and selective internal development. In addition, like many startup companies in the healthcare sector, the Company has the need to provide equity incentive compensation awards to new hires and existing employees in order to recruit, hire, promote and/or maintain employees in a tight labor market. We believe it is important for us to have sufficient availability to provide retentive equity awards to existing employees, particularly while we are trying to conserve cash, and believe it is prudent to maintain sufficient authorized shares to allow us to make new hire, promotion and annual equity awards to employees, advisors and consultants in the future. In addition, the Company provides equity awards to non-employee directors as compensation for serving as directors, and anticipates that it may recruit new directors in the future as it strives to add skills and qualifications to its Board. Finally, the Board recently approved refresh stock and restricted stock grants to its employees, executives, consultants and non-employee directors to provide needed retentive equity compensation because of the underwater nature of existing stock options. For these reasons, the Company is seeking approval to add an additional 750,000 shares to the Plan.

A copy of the Amendment to the Plan is attached as Appendix Bto this proxy statement. The following is a summary of the provisions of the Plan. You are encouraged to review the Plan for a full understanding of the Plan.

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Description of the Plan

Shares Available for Awards; Annual Per-Person Limitations

Under the Plan, without the increase approved by the Board on August 27, 2025, 59,348 shares of common stock are reserved for issuance (which amount includes 900,000 shares that were originally authorized for issuance under the Plan and 466,970 shares that became authorized for issuance under the Plan pursuant to the Plan’s evergreen provision), of which 59,348 remain available for new issuances as of the date of this proxy statement. If the amendment to the Plan is approved at this Special Meeting, the total number of shares of common stock reserved under the Plan would be increased by 750,000 shares to an aggregate of