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Stock Issuable
Stock Issuable contract clause examples

Stock Issuable. The maximum number of shares of Stock reserved and available for issuance under the Plan shall be # 8,800,000 shares less # the number of shares of Stock underlying awards granted under the Company’s Equity Plan originally adopted in 2011 (the “Prior Plan”) after February 28, 2021, subject to adjustment as provided in this Section 3. For purposes of this limitation, the shares of Stock underlying any awards under the Plan and under the Prior Plan that are forfeited, canceled or otherwise terminated (other than by exercise) shall be added back to the shares of Stock available for issuance under the Plan and, to the extent permitted under Section 422 of the Code and the regulations promulgated thereunder, the shares of Stock that may be issued as Incentive Stock Options. Notwithstanding the foregoing, the following shares shall not be added to the shares authorized for grant under the Plan: # shares tendered or held back upon exercise of a Stock Option or settlement of an Award to cover the exercise price or tax withholding, and # shares subject to a Stock Appreciation Right that are not issued in connection with the stock settlement of the Stock Appreciation Right upon exercise thereof. In the event the Company repurchases shares of Stock on the open market, such shares shall not be added to the shares of Stock available for issuance under the Plan. Subject to such overall limitations, shares of Stock may be issued up to such maximum number pursuant to any type or types of Award; provided, however, that no more than 8,800,000 shares of the Stock may be issued in the form of Incentive Stock Options. The shares available for issuance under the Plan may be authorized but unissued shares of Stock or shares of Stock reacquired by the Company.

Excludes: (i) all shares of Common Stock issuable upon exercise of the Stock Options and Warrants; (ii)16,000,000 shares of Common Stock issuable upon exercise of stock options outstanding;

SECTION # STOCK ISSUABLE UNDER THE PLAN; MERGERS; SUBSTITUTION

Common stock issuable as dividends with respect to ’s outstanding Series B Preferred Stock;

shares of Common Stock issued or issuable as a dividend or distribution on Preferred Stock;

Prior to the Close of Business on the Mandatory Conversion Date or any applicable Conversion Date, shares of Common Stock (and/or other securities, if applicable) issuable upon conversion of any shares of Series B Preferred Stock shall not be deemed outstanding for any purpose, and the Holder(s) shall have no rights with respect to the Common Stock (and/or other securities, if applicable) issuable upon conversion (including voting rights, rights to respond to tender offers for the Common Stock (and/or other securities, if applicable) issuable upon conversion and rights to receive any dividends or other distributions on the Common Stock (and/or other securities, if applicable) issuable upon conversion) by virtue of holding shares of Series B Preferred Stock.

Underlying Shares” means the shares of Common Stock issued and issuable upon conversion of the Series A Preferred Stock.

Warrant Shares” means the shares of Common Stock issuable upon exercise of the Warrants.

Conversion Shares” means the shares of Common Stock issuable upon conversion of the Preferred Shares.

“Shares” means and shares of Common Stock issuable by the Company pursuant to the terms of the Series C Preferred Stock and the Warrants.

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