UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Adoption of Amended and Restated 2018 Employee Stock Incentive Plan and Updated Award Agreements
On August 18, 2025, the board of directors (the “Board”) of XTI Aerospace, Inc. (the “Company”) approved the Amended and Restated XTI Aerospace, Inc. 2018 Employee Stock Incentive Plan (the “Amended and Restated Plan”) to, among other things, (i) restate and integrate all prior amendments thereto, (ii) provide that the Board may authorize one or more of the Company’s officers to (x) designate employees, consultants, vendors, or other individuals having a business relationship with the Company or its subsidiaries to be recipients of awards granted pursuant to the Amended and Restated Plan and (y) determine the number of shares of common stock subject to such awards, provided that the Board must specify the total number of shares of common stock that may be subject to the awards granted by such officer and such officer may not grant an award to himself or herself, (iii) provide that the Committee (as defined in the Amended and Restated Plan) may delegate to officers of the Company, pursuant to a written delegation, the authority to perform specified functions under the Amended and Restated Plan, and (iv) make certain other administrative, technical, clarifying and conforming changes.
On the same date, the Board adopted new forms of award agreements with respect to grants of incentive stock options, non-qualified stock options, restricted stock and restricted stock units pursuant to the Amended and Restated Plan. The forms of award agreements have been updated to align with the Amended and Restated Plan and to include other ministerial and conforming changes.
The foregoing description of the Amended and Restated Plan and new forms of award agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated Plan, form of Incentive Stock Option Agreement, form of Non-Qualified Stock Option Agreement, form of Restricted Stock Award Agreement and form of Restricted Stock Unit Award Agreement, copies of which are attached hereto as Exhibits 10.1, 10.2, 10.3, 10.4 and 10.5, respectively, and incorporated herein by reference.
Delegation of Authority to Chief Financial Officer to Grant Equity Awards
On August 18, 2025, the Board allocated an equity pool of 10,000,000 shares of common stock (the “Equity Pool”) out of 72,906,959 shares of common stock available for future issuance under the Amended and Restated Plan and granted the Company’s Chief Financial Officer the authority to grant stock options and restricted stock units from the Equity Pool to one or more of the Company’s employees, consultants, vendors, or other individuals having a business relationship with the Company or its subsidiaries.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| * | Indicates a management contract or compensatory plan or arrangement. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| XTI AEROSPACE, INC. | ||
| Date: August 21, 2025 | By: | /s/ Brooke Turk |
| Name: | Brooke Turk | |
| Title: | Chief Financial Officer | |
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