Management Change/Compensation - Form 8-K

On March 26, 2019, the Board of Directors (the "Board") of Odyssey Marine Exploration, Inc. ("Odyssey") adopted and approved the 2019 Stock Incentive Plan (the "2019 Plan"), which was approved by our stockholders on June 3, 2019. The 2019 Plan permits the grant of options, restricted stock units, restricted stock awards, and stock appreciation rights (collectively, "awards") to attract and retain employees, officers, consultants, and directors and to align their interests with those of our stockholders. As adopted and approved, the 2019 Plan authorized 800,000 shares for issuance pursuant to awards.

On March 7, 2022, the Board upon the recommendation of the Compensation Committee, adopted resolutions to increase from 800,000 to 2,400,000, the number of shares authorized for issuance pursuant to awards. The increase was approved by Odyssey's stockholders at Odyssey's 2022 Annual Meeting of Stockholders.

On April 24, 2024, the Board, upon the recommendation of the Compensation Committee, adopted resolutions to increase, from 2,400,000 to 4,400,000, the number of shares authorized for issuance pursuant to awards, subject to the approval of the Odyssey's stockholders at the next Annual Meeting of Stockholders.