Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 1541

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 1541
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4, 100,000 restricted Series A preferred stock
    awards on April 15, 2024, 21,361 restricted stock awards on June 1, 2024, 170,800 restricted stock awards on September 1, 2024, and
    153,745 restricted stock awards on December 1, 2024.

    (5)
    The
    Company has appointed John Tunison to serve as the Chief Financial Officer and Treasurer of the Company, effective April 8, 2024,
    with employment commencing on March 29, 2024.

    (6)
    Mr.
    Tunison was granted 47,059 restricted stock awards of common stock on April 15, 2024, 25,000 restricted Series A preferred stock
    awards on April 15, 2024, 6,852 restricted stock awards on June 1, 2024, 52,845 restricted stock awards on September 1, 2024, and
    49,315 restricted stock awards on December 1, 2024.

    (7)
    Effective
    May 1, 2023, Mr. Toporek resigned as Chief Executive Officer of Soluna Holdings, Inc. and was appointed Executive Chairman of the
    Board.

    (8)
    Mr.
    Toporek was granted 317,647 restricted stock awards of common stock on April 15, 2024, 1,244,969 restricted Series A preferred stock
    awards on April 15, 2024, 51,464 restricted stock awards on June 1, 2024, 439,706 restricted stock awards on September 1, 2024, and
    370,402 restricted stock awards on December 1, 2024.

70

Base
Salary and Cash Incentives of our Chief Executive Officer and Chief Financial Officer

John
Belizaire

Pursuant
to the merger with Soluna Callisto, SCI and John Belizaire entered into an employment agreement, dated as of October 29, 2021, pursuant
to which Mr. Belizaire served as President and Chief Executive Officer of SCI. The employment agreement provided for an initial term
beginning on October 29, 2021, the effective date of the merger, and ending 36 months thereafter and, unless either party provides written
notice ninety (90) days prior to the expiration of such initial