Summary by Futu AI
Ault Alliance, Inc. announced the implementation of the 2024 Stock Incentive Plan, subject to stockholder approval. The plan aims to incentivize and reward key employees, consultants, and non-employee directors by providing equity awards such as stock options, stock appreciation rights, restricted stock, and other stock-based incentives. The plan is designed to align participants' interests with those of shareholders and promote the company's long-term success. The 2024 Stock Incentive Plan will reserve 6 million shares for awards and will be effective upon stockholder approval, with a term of 10 years. Adjustments to the plan may be made to reflect changes in the company's capital structure or in response to corporate transactions. The plan also includes provisions for tax withholding, non-transferability of awards, and compliance with Section 409A of the Internal Revenue Code. The Board of Directors or a designated committee will administer the plan, with the ability to amend or terminate it subject to certain conditions requiring stockholder approval.