Company: HSDTW
Filing Date: 2025-10-02
Form Type: PRE 14A
Source: 0001104659-25-096093
Chunk: 52

Company: Solana Co
Filing Date: 2025-10-02
Form: PRE 14A
Chunk 52
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 and further align the interests of the participants and our stockholders. In September 2025, the Company adopted and implemented a Solana treasury strategy. The digital asset treasury and the life sciences markets are highly competitive, and our results are largely attributable to the talents, expertise, efforts and dedication of our employees, consultants, officers and non-employee directors. Our compensation program, including the granting of equity compensation, is a crucial way to attract and recruit new employees and consultants and retain existing employees and consultants, with equity compensation serving as our primary recruitment, retention and motivational tool as opposed to cash compensation. Stockholder approval of the Third Amendment will permit us to continue to grant equity compensation awards to our key employees, consultants, officers and non-employee directors in furtherance of this philosophy. If the Third Amendment is not approved, we may be compelled to significantly increase the cash component of our employee and director compensation, which approach may not necessarily align 31 TABLE OF CONTENTS employee and director compensation interests with the investment interests of our stockholders. Replacing equity awards with cash also would increase cash compensation expense and use cash that could be better utilized. Material Changes from the 2022 Equity Incentive Plan The Third Amendment increases the number of shares of Common Stock available for awards under the 2022 Equity Incentive Plan by 4,000,000 shares of Common Stock. We are not seeking to make any other material changes to the terms of the 2022 Equity Incentive Plan. Summary of the 2022 Equity Incentive Plan, as proposed to be amended The material features of the 2022 Equity Incentive Plan are described below. The following description of the 2022 Equity Incentive Plan is a summary only and is qualified in its entirety by reference to the complete text of the 2022 Equity Incentive Plan, as amended by Amendment 1 and Amendment 2 thereto. Stockholders are urged to read the proposed Third Amendment, attached to this proxy statement as Appendix A . If our stockholders approve the Third Amendment, a registration statement on Form S-8 covering the shares added to the share reserve will be filed with the SEC. General The 2022 Equity Incentive Plan provides that all current and prospective employees, consultants and non-employee directors of the Company or its affiliates may be granted the following types of awards: options to acquire shares of the Company’s Common Stock; shares of restricted stock; or other stock-based awards including shares of Common Stock not subject to any restrictions or conditions