NextBoat Inc. CEO Stock Options Grant

Ross Tannenbaum, CEO of NextBoat Inc., was granted inducement non-qualified stock options on September 28, 2026. A total of 1,000,000 options are subject to vesting based on continued employment, with 200,000 vesting immediately and the remainder vesting in monthly installments through September 28, 2030. Another 1,000,000 options will vest upon the company achieving certain Adjusted EBITDA targets, and 500,000 options will vest if the stock price reaches $5.00 for 60 consecutive trading days. All options have a 10-year term and vest fully upon a change in control, with specific conditions for certain transactions and terminations. The exercise price for all options is $1.96.