Company: LTRYW
Filing Date: 2025-05-21
Form Type: 10-Q
Source: 0001641172-25-011865
Chunk: 28

Company: Lottery.com Inc.
Filing Date: 2025-05-21
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 Board members or independent consultants.

2021
Equity Incentive Plan

In
connection with the Business Combination, our board of directors adopted, and our stockholders approved, the Lottery. com 2021 Incentive
Award Plan (the “2021 Plan”) under which 616,518 shares of Class A common stock were initially reserved for issuance. The
2021 Plan allows for the issuance of incentive and non-qualified stock options, stock appreciation rights, restricted stock, restricted
stock units and other stock or cash-based awards. The number of shares of the Company’s Class A common stock available for issuance
under the 2021 Plan increases annually on the first day of each calendar year, beginning on and including January 1, 2022 and ending
on and including January 1, 2031 by a number of shares of Company common stock equal to five percent (5%) of the total outstanding shares
of Company common stock on the last day of the prior calendar year. Notwithstanding the foregoing, the Board may act prior to January
1st of a given year to provide that there will be no such increase in the share reserve for such year or that the increase in the share
reserve for such year will be a lesser number of shares of Company common stock than would otherwise occur pursuant to the preceding
sentence.

2023
Equity Incentive Plan

On
October 10, 2023, the Board adopted the Lottery. com 2023 Employees’ Directors’ and Consultants Stock Issuance and Option
Plan (the “2023 Plan”) under which 500,000 shares of Class A common stock were initially reserved for issuance. The 2023
Plan allows for the issuance of incentive and non-qualified stock options, and restricted stock. As of December 31, 2024, the Company
had awarded 350,000 shares under the 2023 Plan. The company did not grant any additional shares during the quarter ended March 31, 2025.

  F-23  

Stock
Options

The
Company did not issue any new stock options during the quarter ended March 31, 2025. The following table shows stock option activity
for the year ended December 31, 2024 and the quarter ended March 31, 2025:

                                                                                                                         Weighted   
                                                                                                        Weighted         Average    
                            Shares                        Outstanding                     Average       Remaining        Aggregate  
                            Available                     Stock                           Exercise      Contractual      Intrinsic  
                            for