Company: ALCE
Filing Date: 2025-06-06
Form Type: 10-K
Source: 0001213900-25-052242
Chunk: 359

Company: Alternus Clean Energy, Inc.
Filing Date: 2025-06-06
Form: 10-K
Item: Item 1A
Chunk 359
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 the grant of awards. On November 15, 2024 the board of directors and our stockholders approved an increase to reserve
2,240,000 shares of common stock issuable upon the grant of awards. 

On March 21, 2025, Vincent
Browne, our CEO and majority voting shareholder, representing 91% of the shares entitled to vote, approved an amendment to the Company’s
2023 Equity Incentive Plan relating to an increase in the number of shares of Common Stock that shall be available for the grant of awards
under the Plan from 2,240,000 shares of Common Stock, so that the maximum aggregate number of shares of Common Stock that may be
issued under the Plan is increased each fiscal year (the “Adjustment Date”) by an amount equal to the lesser of (i) that
number of shares equal to 15% of the outstanding shares of Common Stock on the applicable Adjustment Date, less (a) the number of
shares of Common Stock that may be issued under the Plan prior to the Adjustment Date, and (b) the number of shares of Common Stock
that may be issued under any other stock option plan of the Company in effect as of the Adjustment Date; or (ii) such lesser number
of shares of Common Stock as may be determined by the Board.

Currently
no awards have been granted under the 2023 Plan. 

Recent Sales of Unregistered Securities 

During the fiscal year ended December 31, 2024,
the Company made the following unregistered sales securities.

    (1)
    On January 11, 2024, we issued 310,600 shares of restricted common stock valued at $30.75 per share to Nordic ESG and Impact Fund SCSp (“Nordic ESG”) as settlement of AEG’s €8m note.

    (2)
    On January 23, 2024 we issued 3,252 shares of restricted common stock valued at $25.25 per share to Outside the Box Capital Inc. in exchange for services.

    (3)
    On February 5, 2024 we issued to SCM Tech, LLC warrants to purchase up to 3,600 shares of restricted common stock, exercisable at $0.25 per share having a 5 year term and fair value of $86,000.

    (4)
    On February 20, 2024 we issued 4,000 shares of restricted common