Company: IXHL
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001213900-25-036057
Chunk: 38

Company: Incannex Healthcare Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 38
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3 Plan by our stockholders at the special meeting and at such time as we have enough available authorized shares of common stock under our Amended and Restated Certificate of Incorporation to accommodate the number of shares then reserved under the Amended 2023 Plan. If this proposal is approved: •the number of shares authorized for issuance of awards under the Amended 2023 Plan will be increased by 2,700,000shares of common stock; and •an “evergreen provision” will be added to provide that the number of shares authorized for issuance of awards under the Amended 2023 Plan will increase automatically on September30, 2025 in an amount equal to 20% of the then outstanding shares of common stock on September30, 2025, and will further increase on the first day of each fiscal year of the Company (each, a “Fiscal Year”) beginning with the 2026 Fiscal Year commencing on July1, 2026 and ending on (and including) the first day of the 2032 Fiscal Year commencing on July1, 2032, in an amount equal to 5% of the then -outstandingshares of common stock on such dates (each, an “Evergreen Increase”); provided, however, that the board of directors may act to provide that there will be no Evergreen Increase for a Fiscal Year, or that the Evergreen Increase for such Fiscal Year will be a lesser number of shares of common stock (the “Evergreen Provision”). The 2023 Plan was approved by our board of directors and stockholders in November 2023. By its terms, the 2023 Plan may be amended by the board of directors provided that any amendment that the board of directors determines requires stockholder approval is subject to receiving such stockholder approval. Approval of the Amended 2023 Plan by our stockholders is required by the listing rules of The Nasdaq Stock Market. In addition, stockholder approval is required in order to ensure favorable federal income tax treatment for grants of incentive stock options under Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). We do not currently have enough authorized shares of our common stock to accommodate both the Amended 2023 Plan and the maximum number of shares issuable upon exercise of the Series A Warrants. Accordingly, assuming this Proposal No. 3 is approved by our stockholders, the Amended 2023 Plan will only become effective if and when we have