0002030954 2025-01-01 2025-12-31 0002030954 2025-02-28 2025-01-01 2025-12-31 0002030954 XHLD:VirgilioDTorresMember 2025-06-30 iso4217:USD shares iso4217:USD shares pure false 0002030954 DEF 14A TEN Holdings, Inc. true We have adopted a Compensation Recovery Policy effective as of February 2025 that complies with the Nasdaq’s clawback rules promulgated under the SEC’s Rule 10D-1. Under this policy, the Compensation Committee must determine and recover the excess compensation related to all incentive-based compensation that was paid to our executive officers based on financial statements that were subsequently restated. The policy provides that, if the Compensation Committee determines that there has been a material restatement of publicly issued financial results from those previously issued to the public, the Compensation Committee will review all incentive-based compensation made to executive officers during the three-year period prior to the restatement. If such payments would have been lower had they been calculated based on such restated results, the Compensation Committee will recoup the payments in excess of the amount that would have been received had it been determined based on the restated amounts. Additionally, the Sarbanes-Oxley Act of 2002 subjects incentive-based compensation and stock sale profits of our Chief Executive Officer and Chief Financial Officer to forfeiture in the event of an accounting restatement resulting from any non-compliance, as a result of their misconduct, with any financial reporting requirement under securities laws. Since January 1, 2025, we have not prepared any accounting restatements that would require recoupment of compensation under the Compensation Recovery Policy. We do not have any formal policies regarding the timing of awards of options in relation to the disclosure of material nonpublic information. On June 30, 2025, we granted Virgilio D. Torres an option to purchase 323,884 shares of the Company’s Common Stock with an exercise price of $0.36. As a result of the Company’s 1-for-15 reverse stock split, effected on December 1, 2025, the number of shares issuable upon the exercise of this option was reduced to 21,592, with an exercise price of $5.40 per share. On July 2, 2025, we filed a Current Report on Form 8-K announcing that the Company had received deficiency letters from the Listing Qualifications Department of Nasdaq. Accordingly, the June 30, 2025 grant occurred during a period beginning four business days before the filing of a Form 8-K that disclosed material nonpublic information and ending one business day after the filing of such report. The table below provides the information required by Item 402(x) of Regulation S-K: false <table cellpadding="0" cellspacing="0" id="xdx_301_zcwcCh2voLRg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Award Timing Disclosure"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Name</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Grant Date</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Number of securities underlying the award</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Exercise price of the award ($/Sh)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Grant date fair value of the award</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">Percentage change in the closing market price of the securities underlying the award between the trading day ending immediately prior to the disclosure of material nonpublic information and the trading day beginning immediately following the disclosure of material nonpublic information</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: left"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_900_eecd--AwardsCloseToMnpiDiscIndName_iI_c20250630__ecd--IndividualAxis__custom--VirgilioDTorresMember_zMYUWPxFALy3" title="Name">Virgilio D. Torres, Chief Financial Officer, Secretary and Director</td><td style="width: 2%"> </td> <td style="text-align: center; width: 11%">June 30, 2025</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_908_eecd--AwardUndrlygSecuritiesAmt_iI_pid_uShares_c20250630__ecd--IndividualAxis__custom--VirgilioDTorresMember_zutuaNpVK2t3" title="Number of Securities Underlying the Award">21,592</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_90E_eecd--AwardExrcPrice_iI_pp2d_uUSDPShares_c20250630__ecd--IndividualAxis__custom--VirgilioDTorresMember_znvTPvxhGc5l" title="Exercise Price of the Award">5.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_902_eecd--AwardGrantDateFairValue_iI_pp2d_uUSD_c20250630__ecd--IndividualAxis__custom--VirgilioDTorresMember_zvV4sn0z1aDc" title="Grant Date Fair Value of the Award">2.58</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span class="xdx_phnt_RGlzY2xvc3VyZSAtIEF3YXJkIFRpbWluZyBEaXNjbG9zdXJlAA__" id="xdx_904_eecd--UndrlygSecurityMktPriceChngPct_iI_pid_dp_uPure_c20250630__ecd--IndividualAxis__custom--VirgilioDTorresMember_z6ekjB1RhkPc" title="Percentage Change in the Closing Market Price of the Securities Underlying the Award Between the Trading Day Ending Immediately prior to the Disclosure of Material Non-Public">6.34</td><td style="width: 1%; text-align: left">%</td></tr> </table> Virgilio D. Torres 21592 5.40 2.58 0.0634 it is anticipated that the Board will take material nonpublic information into account when determining the timing and terms of such an award, with the goal being to not grant such awards close in time to the release of any material nonpublic information.