Company: ENBSF
Filing Date: 2025-03-11
Form Type: 10-K/A
Source: 0001193125-25-052058
Chunk: 51

Company: ENBRIDGE INC
Filing Date: 2025-03-11
Form: 10-K/A
Chunk 51
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 Enbridge shares outstanding at the time of reservation.                                                                             
 The total number of Enbridge shares issued to Insiders pursuant to all security-based compensation arrangements of the Company shall not exceed 10% of the number of Enbridge shares outstanding at the time of issuance (excluding any other Enbridge shares issued under all security-based compensation arrangements of the Company during such one-year period).                                                                        
 Up to 2,000,000 Enbridge shares can be issued under the 2019 LTIP as Incentive Stock Options.                                                                                                                                                                                                                                                                                                                                               |
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| Stock options delivered to a greater than 10% shareholder                                                                          |     | If an Incentive Stock Option is granted to a greater than 10% shareholder, the grant price will not be less than 110% of the fair market value on the grant date of the Incentive Stock Option, and in no event will such Incentive Stock Option be exercisable after the expiration of five years from the date on which the Incentive Stock Option is granted.                                                                            |
| Minimum vesting                                                                                                                    |     | All awards shall be subject to a minimum vesting schedule of at least twelve months following the date of grant of the award, provided that vesting may accelerate in connection with death, retirement, a CIC or other termination of service.   Notwithstanding the foregoing, up to 5% of the Enbridge shares available for grant under the 2019 LTIP may be granted with a minimum vesting schedule that is shorter than twelve months. |

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Annual burn rate

| Stock options outstanding          |     |    2024 |     |    2023 |     |    2022 |
| 2019 LTIP                          |     | 0.3356% |     | 0.2223% |     | 0.2071% |
| Incentive Stock Option Plan1       |     |       - |     |       - |     |       - |
| Spectra 2007 LTIP – stock options2 |     |       - |     |       - |     |       - |

| 1 | No grants have been made under this plan since 2018. |

| 2 | All grants under the Spectra 2007 LTIP were made by Spectra Energy prior to the Merger Transaction. No further awards have been or will be granted under the Spectra 2007 LTIP following the closing