9. Employee Stock Purchase Plan

On December 4, 2025, the Company’s stockholders approved the 2025 ESPP, which became effective February 1, 2026 with the beginning of the first purchase period (the “enrollment date”). The 2025 ESPP allows eligible employees to purchase shares of the Company’s common stock through payroll deductions during 12-month offering periods with semi-annual purchase dates. The purchase price is 85% of the lower of the fair market value of the Company’s common stock on the enrollment date or the applicable purchase date. Employees may contribute up to 10% of eligible compensation, subject to plan limits. A total of 4,000,000 shares of common stock were authorized for issuance under the 2025 ESPP. No shares were purchased during the year ended June 30, 2026, as the initial purchase date had not occurred as of June 30, 2026. The impact of the 2025 ESPP purchase rights on stock-based compensation expense for the year ended June 30, 2026 was immaterial.