Form 8-K
8-K — HeartBeam, Inc.
Accession: 0001213900-26-070628
Filed: 2026-06-22
Period: 2026-06-15
CIK: 0001779372
SIC: 3841 (SURGICAL & MEDICAL INSTRUMENTS & APPARATUS)
Item: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
Item: Financial Statements and Exhibits
Documents
8-K — ea0295318-8k_heart.htm (Primary)
EX-10.1 — PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT, DATED JUNE 15, 2026, BY AND BETWEEN HEARTBEAM, INC. AND BRANISLAV VAJDIC (ea029531801ex10-1.htm)
EX-10.2 — TRANSACTION BONUS AGREEMENT, DATED JUNE 15, 2026, BY AND BETWEEN HEARTBEAM, INC. AND BRANISLAV VAJDIC (ea029531801ex10-2.htm)
GRAPHIC (ea029531801_ex10-1img1.jpg)
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8-K — CURRENT REPORT
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
and Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 15, 2026
HEARTBEAM, INC.
(Exact name of Registrant as specified in its charter)
Delaware
001-41060
47-4881450
(State or other jurisdiction
of incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
2118 Walsh Avenue, Suite 210
Santa Clara, CA 95050
(Address of principal executive offices, including
zip code)
(408) 899-4443
(Registrant’s telephone number, including
area code)
Check the appropriate box below if the 8-K filing
is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
☐
Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common Stock
BEAT
NASDAQ
Warrant
BEATW
NASDAQ
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Compensatory Arrangements of Named Executive
Officers
On June 15, 2026, the Compensation Committee of
the Board of Directors (the “Board”) of HeartBeam, Inc. (the “Company”) approved certain compensatory arrangements
for Branislav Vajdic, the Company’s President, Founder and Director, including a performance-based restricted stock unit (“PRSU”)
award and a transaction bonus agreement (the “Transaction Bonus Agreement”), each as described below.
PRSU
On June 15, 2026, the Board approved a performance-based
restricted stock unit award under the Company’s 2022 Equity Incentive Plan to Dr. Vajdic covering 2,800,000 restricted stock units.
The performance-based restricted stock units are eligible to vest only if and to the extent that specified performance-based conditions
and service-based conditions are satisfied, or the requirements for accelerated vesting are satisfied.
The performance-based conditions relate to specified
operational, software, product-development and clinical study milestones during the period beginning on the grant date and ending on the
earlier of the one-year anniversary of the grant date and the day before the effective date of the first Change in Control to occur after
the grant date. The service-based conditions are satisfied as to one-third of the performance-based restricted stock units on each of
the first three anniversaries of the grant date, subject to Dr. Vajdic’s continued service through the applicable date, provided
that if a Change in Control occurs on or before the three-year anniversary of the grant date, then the service-based condition will be
satisfied immediately prior to such Change in Control, subject to Dr. Vajdic’s continued service through such time.
The performance-based restricted stock unit award
also provides for accelerated vesting upon a qualifying termination before the three-year anniversary of the grant date, to the extent
applicable performance milestones were timely achieved before such qualifying termination and subject to Dr. Vajdic’s satisfaction
of the applicable release condition.
The foregoing description of the performance-based
restricted stock unit award does not purport to be complete and is qualified in its entirety by reference to the full text of the applicable
award agreement, which is filed herewith as Exhibit 10.2 and incorporated herein by reference.
Transaction Bonus Agreement
Subject to Dr. Vajdic’s continued employment
with the Company through immediately prior to a Qualifying Change in Control (as defined in the Transaction Bonus Agreement), the transaction
bonus will be determined based on achievement of specified market capitalization and per-share price thresholds. If the minimum threshold
is not achieved, no transaction bonus will be payable.
Any transaction bonus that becomes payable will
generally be paid in the same form or forms and in the same proportions of consideration paid to the Company’s stockholders in the
Qualifying Change in Control, except that the Board may determine to pay all or a portion of the transaction bonus in cash. Any amount
payable at closing will be paid no later than 30 days after the closing, and any amount attributable to post-closing payments will be
paid if and when such amounts are paid to the Company’s stockholders, subject to the terms of the Transaction Bonus Agreement.
The foregoing description of the Transaction Bonus
Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Transaction Bonus Agreement,
which is filed herewith as Exhibit 10.1 and incorporated herein by reference.
1
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
† Certain identified information has been excluded from the exhibits
marked with this symbol because it is both not material and is the type of information that the Registrant treats as private or confidential.
Exhibit
Number
Description
10.1†
Performance-Based Restricted Stock Unit Award Agreement, dated June 15, 2026, by and between HeartBeam, Inc. and Branislav Vajdic
10.2†
Transaction Bonus Agreement, dated June 15, 2026, by and between HeartBeam, Inc. and Branislav Vajdic
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
2
SIGNATURES
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.
HeartBeam, Inc.
Date: June 22, 2026
By:
/s/ Timothy Cruickshank
Name:
Timothy Cruickshank
Title:
Chief Financial Officer
3
EX-10.1 — PERFORMANCE-BASED RESTRICTED STOCK UNIT AWARD AGREEMENT, DATED JUNE 15, 2026, BY AND BETWEEN HEARTBEAM, INC. AND BRANISLAV VAJDIC
EX-10.1
Filename: ea029531801ex10-1.htm · Sequence: 2
Exhibit 10.1
CERTAIN INFORMATION CONTAINED IN THIS EXHIBIT,
MARKED BY [***], HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE THE REGISTRANT HAS DETERMINED THAT IT IS BOTH NOT MATERIAL AND IS THE TYPE
THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.
June 15, 2026
Dear Branislav:
In recognition of your contributions
to HeartBeam, Inc. (the “Company”) and to provide additional incentives for you to maximize the value of the Company,
the Company’s Compensation Committee of the board of directors (the “Board”) has awarded you a bonus opportunity
(the “Transaction Bonus”) payable in the event of a Change in Control that occurs after the date first set forth above
(the “Effective Date”), but prior to the Expiration Date (a “Qualifying Change in Control”), on
the conditions set forth herein. Capitalized terms which are not otherwise defined in this agreement (this “Bonus Agreement”)
have the meaning ascribed to such terms in Appendix A.
Transaction Bonus Amount and Conditions
Subject to your continued
employment with the Company through immediately prior to a Qualifying Change in Control, you will become eligible to receive a bonus in
an amount equal to the sum of:
(i) One percent (1%) of the Aggregate Price Paid, only if the Company’s Market Capitalization is at
least [***]; plus
(ii) An additional half percent (0.5%) of the Aggregate Price Paid, [***];
plus
(iii) An additional half percent (0.5%) of the Aggregate Price Paid [***]
(such sum, the “Transaction Bonus Amount”)
For avoidance of doubt, no
bonus will be paid hereunder, and the Transaction Bonus Amount will be zero dollars ($0), if a Qualifying Change in Control occurs but
the Company’s Market Capitalization is less than.
In order to receive any Transaction
Bonus to which you may otherwise be entitled under this Bonus Agreement, you must execute a general release of claims in a form prescribed
by the Company that becomes effective and irrevocable within 60 days following the closing of a Qualifying Change in Control (the “Closing”).
If you cease to be a Service
Provider (defined as an Employee, Director or Consultant) for the Company for any reason prior to the date of a Change in Control, your
eligibility to receive a Transaction Bonus will terminate effective on the date of such termination.
Form of Transaction Bonus
Any Transaction Bonus which
becomes payable will be subject to the same terms and conditions and paid in the same form or forms of payment and in the same proportions
of consideration paid by the purchaser(s) to the holders of the Company’s equity securities upon the Qualifying Change in Control,
whether such distribution is at Closing or a delayed distribution pursuant to the application of any escrow, earn-out or other similar
arrangement, provided that the Board, in its sole discretion, may determine that all or a portion of the Transaction Bonus will be paid
in cash, and provided further that the terms and conditions of any delayed payment shall be compliance with, or exempt from, Section 409A
of the Code.
Transaction Bonus Payment Timing
Any Transaction Bonus Amount
which becomes payable in connection with the Closing of a Qualifying Change in Control will be paid as soon as practicable on or after
such Closing, but in no event later than 30 days following such Closing. Any Transaction Bonus Amount related to Post-Closing Payments
will be paid if and when paid to the Company’s stockholders (and subject to the same terms and conditions as apply to the Company’s
stockholders generally); provided, however, that any Post-Closing Payments not paid by the 5th anniversary of the Closing will
be forfeited. The Company does not expect to enter into a Change in Control transaction providing for Post-Closing Payments which would
not be paid by the 5th anniversary of the Closing but, in the event of such a Change in Control transaction, agrees to negotiate
in good faith to arrive at a mutually agreeable arrangement.
Section 409A
The Transaction Bonus is intended
to either be exempt from, or in compliance with, Section 409A, so that no portion of the Transaction Bonus will be subject to additional
tax under Section 409A, and any ambiguities or ambiguous terms herein will be interpreted to be so exempt or in such compliance, as applicable.
In no event will the Company or any successor reimburse you for taxes incurred as a result of the application of Section 409A. The Company
reserves the right, in its sole discretion and without your consent, to take such reasonable actions and make any amendments to this Bonus
Agreement as it deems necessary, advisable or desirable to comply with Section 409A or to otherwise avoid income recognition under Section
409A or imposition of any additional tax prior to the actual payment of any Transaction Bonus Amounts.
Severability and Governing Law; Interpretation
If any term of this Bonus
Agreement is held to be invalid, void or unenforceable, the remainder of this Bonus Agreement will remain in full force and effect and
will in no way be affected, and the parties will use their best efforts to find an alternate way to achieve the same result. This Bonus
Agreement will be construed and interpreted in accordance with the laws of the state of Delaware (other than its choice-of-law provisions).
This Bonus Agreement may be executed in counterparts, each of which will be considered an original, but all of which together will constitute
one agreement.
This Bonus Agreement shall
be interpreted and administered by the Compensation Committee of the Board, whose actions shall be final and binding on all persons and
shall be given the maximum deference permitted by law.
2
No Right to Continued Employment; Entire
Agreement
This Bonus Agreement does
not guarantee or imply any right to your continued employment for any period whatsoever with the Company or its successor, or any of their
subsidiaries or affiliates, and your employment with the Company will continue to be at-will. The terms and conditions of this Bonus Agreement
reflect the entire agreement and understanding between you and the Company as to the subject matter herein and supersede all prior or
contemporaneous agreements with the Company, whether written or oral. This Bonus Agreement may be modified only by a writing executed
by you and a duly authorized member of the Board.
Amendment; Termination
This Bonus Agreement may only
be amended or terminated by mutual written consent between the Company and you.
This Bonus Agreement shall
automatically terminate upon the earlier of (i) the completion of all payments under its terms, (ii) the date of the first Qualifying
Change in Control to occur after the Effective Date if the Bonus Amount payable hereunder in connection with such Qualifying Change in
Control is zero dollars ($0), (iii) the date of termination of your employment with the Company for any reason or no reason, provided
that a Qualifying Change in Control has not occurred on or prior to such date; (iv) the Expiration Date, provided that a Qualifying Change
in Control has not occurred on or before such date.
[signature page follows]
3
Please sign and date this
Bonus Agreement below to indicate your agreement to the terms described herein. We thank you for your continued service to the Company.
Sincerely,
/s/ Richard Ferrari
June 15, 2026
Richard Ferrari
Date
Board Chair,
Chair of Compensation Committee of the Board
Accepted by:
/s/ Branislav Vajdic
June 15, 2026
Branislav Vajdic
Date
4
Appendix A
The following definitions
will apply to the Bonus Agreement to which this Appendix A is attached. Defined terms not otherwise defined in this Appendix
A will have the meaning ascribed to such terms in the Bonus Agreement.
1. “Change
in Control” means the occurrence a Change in Control within the meaning of Section 2(f) of the Plan, excluding any change
in effective control of the Company as a result of Section 2(f)(ii) of the Plan.
2. “Code” means the Internal
Revenue Code of 1986, as amended.
3. “Expiration Date” means the
four-year anniversary of the Effective Date.
4. “Aggregate
Price Paid” means:
(a) With
respect to a Change in Control described in Section 2(f)(i) of the Plan, the sum of any cash and the fair market value of
any securities or other assets or property available for distribution to the holders of the Company’s equity securities (including
any securities that are convertible, exercisable or exchangeable for equity securities) in connection with a Change in Control, including
amounts distributed after the Closing pursuant to any escrow, earn-out or other similar arrangement (the “Post-Closing Payments”).
For purposes of clarification, the amounts available for distribution to holders of the Company’s equity securities as set forth
in this Section 7(a) is net of the repayment of all Company debt outstanding, and all costs and fees associated with the transaction.
(b) With
respect to a Change in Control described in Section 2(f)(iii) of the Plan, the sum of any cash and the fair market value of any securities
or other assets or property received by the Company in connection with a Change in Control, including Post-Closing Payments, after repayment
of all Company debt outstanding and after subtracting all costs and fees associated with the transaction.
The fair market value of any
securities or other assets or property available for distribution to the holders of the Company’s equity securities or received
by the Company, as applicable, in connection with a Change in Control will be determined on the same basis on which such securities or
other assets or property were valued in such Change in Control.
5. “Market
Capitalization” means, with respect to a Qualifying Change in Control, the total value of the outstanding shares of the Company’s
common stock immediately prior to the Closing of such Qualifying Change in Control, calculated by multiplying the volume weighted average
price per share for the ten (10) trading days immediately preceding the Closing by the total number of outstanding shares of the Company’s
common stock as of immediately prior to the Closing.
6. “Plan”
means the HeartBeam, Inc. 2022 Equity Incentive Plan, as amended.
7. “Section 409A”
means Section 409A of the Code and any final Treasury Regulations and guidance thereunder and any applicable state law equivalent, as
each may be amended or promulgated from time to time.
5
EX-10.2 — TRANSACTION BONUS AGREEMENT, DATED JUNE 15, 2026, BY AND BETWEEN HEARTBEAM, INC. AND BRANISLAV VAJDIC
EX-10.2
Filename: ea029531801ex10-2.htm · Sequence: 3
Exhibit 10.2
B Vajdic Performance
Award 6.2026
CERTAIN
INFORMATION CONTAINED IN THIS EXHIBIT, MARKED BY [***], HAS BEEN EXCLUDED FROM THIS EXHIBIT BECAUSE THE REGISTRANT HAS DETERMINED THAT
IT IS BOTH NOT MATERIAL AND IS THE TYPE THAT THE REGISTRANT TREATS AS PRIVATE OR CONFIDENTIAL.
HeartBeam,
Inc.
2022
Equity Incentive Plan
NOTICE OF RESTRICTED
STOCK UNIT AWARD AND
RESTRICTED STOCK UNIT
AGREEMENT
Capitalized terms that
are not defined in this Notice of Restricted Stock Unit Award and Restricted Stock Unit Agreement (the “Notice of Grant”),
the Terms and Conditions of Restricted Stock Unit Award, the Non-U.S. Appendix attached hereto as Exhibit B and all other exhibits
to these documents (all together, the “Agreement”) have the meanings given to them in the HeartBeam, Inc. 2022 Equity
Incentive Plan (the “Plan”).
The Participant has been
granted this Restricted Stock Unit (“RSU”) award according to the terms below and subject to the terms and conditions
of the Plan and this Agreement, as follows:
Participant
Branislav Vajdic
Participant I.D.
A-100018
Grant Number
PRSU2026001
Grant Date
June 15, 2026
Number of RSUs Granted
2,800,000
Vesting Schedule:
Subject to the acceleration
of vesting provisions herein, the RSUs subject to this Agreement are eligible to vest only if and to the extent that (i) both the performance-based
conditions and service-based conditions described below are satisfied or (ii) the requirements for accelerated vesting described below
are satisfied.
Performance-Based
Conditions:
The performance-based
conditions for vesting of the RSUs will be satisfied only if and to the extent that the performance milestone designated in the table
below (each, a “Milestone Goal”) for the respective portion of the Number of RSUs Granted is achieved during the period
beginning on the Grant Date and ending on the earlier of (i) the one-year anniversary of the Grant Date and (ii) the day before
the effective date of the first Change in Control (as defined below) to occur after the Grant Date.
Performance
Milestones:
% of RSUs
Granted
Milestone’ Goal
12.5%
[***]
12.5%
[***]
12.5%
[***]
12.5%
[***]
25%
[***]
25%
[***]
All determinations
regarding achievement of Milestone Goals shall be made by the Administrator in its reasonable discretion and all such determinations shall
be final and binding on all parties. This certification shall be made no later than the earlier of (i) 90 days following the one-year
anniversary of the Grant Date and (ii) the day before the effective date of the first Change in Control to occur after the Grant
Date (the date of such certification, the “Certification Date”). Any RSUs subject to a Milestone Goal that the Administrator
determines has not been achieved in such certification will terminate on such Certification Date for no consideration.
All determinations
regarding the occurrence of a Change in Control shall be made by the Administrator in its sole discretion and all such determinations
shall be final and binding on all parties. This certification shall be made no later than the day before the effective date of the first
Qualifying Change in Control.
Service-Based
Conditions:
The service-based
conditions for vesting of the RSUs will be satisfied as to one-third (1/3rd) of the RSUs on the one-year anniversary of the
Grant Date, as to an additional one-third (1/3rd) of the RSUs on the two-year anniversary of the Grant Date, and as to an additional
one-third (1/3rd) of the RSUs on the three-year anniversary of the Grant Date, in each case subject to Participant remaining
a Service Provider through the applicable date; provided that, if a Change in Control occurs on or before the three-year anniversary of
the Grant Date, then effective as of immediately prior to such Change in Control, the service-based condition will be satisfied with respect
to any portion of the RSUs for which the service-based conditions were not otherwise then satisfied, subject to Participant remaining
a Service Provider through immediately prior to such Change in Control.
Vesting:
If both the
foregoing performance-based conditions and the foregoing service-based conditions for any RSU are satisfied, then that RSU will become
vested on the first date on which both such conditions are satisfied.
Accelerated
Vesting:
Notwithstanding
the foregoing, if (i) Participant ceases to be a Service Provider prior to the three-year anniversary of the Grant Date, at a time
when no Change in Control has occurred, due to (A) a termination of Participant’s service by the Company other than for Cause
(as defined in the letter agreement memorializing terms of Participant’s employment dated as of September 10, 2021, as amended (the
“Employment Agreement”)), death or disability or (B) resignation of Participant’s service by Participant
with Good Reason (as defined in the Employment Agreement) and (ii) Participant timely satisfies the release condition on payment
of severance benefits under the Employment Agreement (taken together, the events under clause (i) and (ii) of this paragraph, a “Qualifying
Termination”), then any portions of the RSUs subject to achievement of Milestone Goals that were timely achieved before the
date of such Qualifying Termination will become vested effective immediately upon the effective date of such Qualifying Termination.
- 2 -
If and to the
extent that both the foregoing performance-based conditions and service-based conditions are not satisfied, and the foregoing requirements
for accelerated vesting are not satisfied, no RSUs will vest or become eligible for vesting under this Agreement, and the RSUs or applicable
portion thereof will terminate for no consideration. Except as provided under the heading Accelerated Vesting above, if the Participant
ceases to be a Service Provider for any or no reason before he or she fully vests in the RSUs, then the unvested RSUs will terminate according
to the terms of Section 5 of this Agreement.
The provisions
of this Vesting Schedule will apply to the RSUs notwithstanding any contrary terms of this Agreement, the Plan, the Employment Agreement
or any other agreement to which both the Company and Participant are parties. Accordingly, no Milestone Goal will be deemed to be satisfied
by operation of the Plan (including under Section 14 of the Plan, regardless of whether the RSUs are “continued” within the
meaning of Section 14(c) of the Plan) or any such agreement.
The Participant’s
signature below (or Participant’s electronic signature or other electronic acknowledgement or acceptance of this Agreement or Award)
indicates that:
(i) He or she agrees that this Restricted Stock Unit award is
granted under and governed by the terms and conditions of the Plan and this Agreement, including their exhibits and appendices.
(ii) He or she understands that the Company is not providing any tax, legal, or financial advice and is not
making any recommendations regarding his or her participation in the Plan or his or her acquisition or sale of Shares.
(iii) He or she has reviewed the Plan and this Agreement, has had an opportunity to obtain the advice of personal
tax, legal, and financial advisors prior to signing this Agreement, and fully understands all provisions of the Plan and Agreement. He
or she will consult with his or her own personal tax, legal, and financial advisors before taking any action related to the Plan.
(iv) He or she has read and agrees to each provision of Section 9 of this Agreement.
(v) He or she will notify the Company of any change to the contact address below.
(vi) He or she acknowledges and agrees that unless otherwise required to comply with Applicable Laws, these
RSUs will be subject to recoupment under any clawback policy that the Company adopts pursuant to Section 17(d) of the Plan.
PARTICIPANT
/s/ Branislav Vajdic
Signature
Address:
- 3 -
EXHIBIT A
TERMS AND CONDITIONS
OF RESTRICTED STOCK UNIT AWARD
1. Grant.
The Company grants the Participant an award of RSUs as described in the Notice of Grant. If there is a conflict between the Plan, this
Agreement, or any other agreement with the Participant governing these RSUs, those documents will take precedence and prevail in the following
order: (a) the Plan, (b) the Agreement, and (c) any other agreement between the Company and the Participant governing these RSUs.
2. Company’s
Obligation to Pay. Each RSU is a right to receive a Share on the date it vests. Until an RSU vests, the Participant has no right to
payment of the Share. Before a vested RSU is paid, the RSU is an unsecured obligation of the Company, payable (if at all) only from the
Company’s general assets. A vested RSU will be paid to the Participant (or in the event of his or her death, to his or her estate
or such other person as specified in Section 6 below) in whole Shares. Subject to the provisions of Section 4(b) and notwithstanding
anything in the Plan to the contrary, each vested RSU that has met all requirements for settlement under this Agreement will be settled
no later than the applicable Settlement Deadline. “Settlement Deadline” with respect to a particular vested RSU means
as soon as practicable after vesting (but no later than sixty (60) days following the vesting date (or, if earlier, no later than March
15 of the calendar year following the calendar year in which occurs the first date on which the applicable RSU is no longer subject to
a substantial risk of forfeiture for purposes of Section 409A)). If any RSU has not met all the requirements for settlement under this
Agreement in a manner that would allow it to be settled by the applicable Settlement Deadline, such RSU will be forfeited as of immediately
following the applicable Settlement Deadline. In no event will Participant be permitted, directly or indirectly, to specify the taxable
year or date of settlement of any RSUs under this Agreement. For the avoidance of doubt, there may be multiple Settlement Deadlines, with
each such Settlement Deadline corresponding to a particular RSU.
3. Vesting.
These RSUs will vest only under the Vesting Schedule in the Notice of Grant, Section 4 of this Agreement, or Section 13 of the Plan. RSUs
scheduled to vest on a certain date or upon the occurrence of a certain condition will not vest unless the Participant continues to be
a Service Provider until the time such vesting is scheduled to occur.
4. Acceleration;
Amendment.
(a) Discretionary
Acceleration or Amendment. The Administrator may, pursuant to its authority under, and in accordance with, Section 4(b)(v), Section 4(b)(ix),
Section 4(b)(xiv) and Section 9(c) of the Plan, in its discretion, unilaterally (x) accelerate, in whole or in part, the vesting
of these RSUs, (y) waive or decrease some or all of the requirements required for vesting of unvested RSUs at any time, or (z) waive
or decrease some or all of the requirements for settlement of RSUs at any time, in each case, subject to the terms of the Plan but without
the need for Participant consent in any instance, and subject to Section 13(j) of this Agreement; provided, however, that
no such acceleration, waiver or decrease shall occur or be effective unless such modification would result in this RSU award remaining
exempt or excepted from the requirements of Code Section 409A pursuant to the “short-term deferral” exception or another exception
or exemption under Code Section 409A, or otherwise complying with Code Section 409A, in each case such that none of this Agreement, the
RSUs provided under this Agreement, or Shares issuable hereunder will be subject to the additional tax imposed under Code Section 409A.
If so modified, the vesting date with respect to the applicable RSUs will be deemed for all purposes of this Agreement to be the date
specified by the Administrator (provided, that, for purposes of determining the applicable settlement deadline under Section 1
of this Agreement with respect to such RSUs, the vesting date will be deemed to be no later than the first date on which the RSUs are
no longer subject to a substantial risk of forfeiture for purposes of Code Section 409A). The settlement of RSUs through Shares pursuant
to this Section 4(a) shall in all cases be no later than the applicable settlement deadline as set forth in Section 1 of this Agreement
and at a time or in a manner that is exempt from, or complies with, Code Section 409A. The prior sentence may be superseded in a
future agreement or amendment to this Agreement only by direct and specific reference to such sentence.
- 4 -
(b) The
Company’s intent is that this RSU award be exempt or excepted from the requirements of Code Section 409A. However, in an abundance
of caution, the Company is including in this subsection, certain Code Section 409A rules that only apply if these RSUs are not exempt
or excepted, and then only in certain circumstances. Specifically, Code Section 409A contains rules that must apply to these RSUs if (a)
they are not exempt or excepted from Code Section 409A, (b) the Company has any stock that is publicly traded on an established securities
market or otherwise at the time Participant’s service terminates, (c) Participant receives acceleration of vesting of these
RSUs in connection with a termination of service, and (d) at the time of such termination, Participant is considered a “specified
employee” under the Code Section 409A rules. Should these rules ever become applicable to Participant’s RSUs, then notwithstanding
anything in the Plan, this Agreement or any other agreement (whether entered into before, on or after the Grant Date) to the contrary,
if the vesting of these RSUs is accelerated in connection with Participant’s termination as a Service Provider (provided
that such termination is a “separation from service” within the meaning of Code Section 409A, as determined by the Company),
other than due to Participant’s death, and if (x) Participant is a U.S. taxpayer and a “specified employee” within the
meaning of Code Section 409A at the time of such termination as a Service Provider and (y) the settlement of such accelerated RSUs will
result in the imposition of additional tax under Code Section 409A if such settlement is on or within the six (6) month period following
Participant’s termination as a Service Provider, then the settlement of such accelerated RSUs will not occur until the date six
(6) months and one (1) day following the date of Participant’s termination as a Service Provider, unless the Participant dies following
his or her termination as a Service Provider, in which case, the Shares subject to these RSUs will be settled and issued to the Participant’s
administrator or executor of his or her estate as soon as practicable following his or her death (subject to Section 6).
5. Forfeiture
upon Cessation of Status as a Service Provider. Upon the Participant’s termination as a Service Provider for any reason, these
RSUs will immediately stop vesting and any of these RSUs that have not yet vested will be forfeited by the Participant for no consideration
upon the date that Participant ceases to be a Service Provider for any reason, in all cases, subject to Applicable Laws. For the avoidance
of doubt, service during any portion of the vesting period shall not entitle the Participant to vest in a pro rata portion of unvested
RSUs. For purposes of the RSUs, the Participant’s status as a Service Provider will be considered to be terminated as of the date
the Participant is no longer providing services to the Company, or if different, the Participant’s employer (the “Employer”)
or the Subsidiary or Parent to which the Participant is providing services (the Employer, Subsidiary or Parent, as applicable, the “Service
Recipient”) or other member of the Company Group (regardless of the reason for such termination and whether or not later found
to be invalid or in breach of employment laws in the jurisdiction where the Participant is a Service Provider or the terms of the Participant’s
employment or service agreement, if any), and unless otherwise expressly provided in this Agreement or determined by the Administrator,
the Participant’s right to vest in the RSUs under the Plan, if any, will terminate as of such date and will not be extended by any
notice period (e.g., the Participant’s period of service would not include any contractual notice period or any period of “garden
leave” or similar period mandated under employment laws in the jurisdiction where the Participant is a Service Provider or the terms
of the Participant’s employment or service agreement, if any). The Administrator shall have the exclusive discretion to determine
when the Participant is no longer providing services for purposes of the RSUs (including whether the Participant may still be considered
to be providing services while on a leave of absence).
6. Death
of Participant. Any distribution or delivery to be made to the Participant under this Agreement will, if he or she is then deceased,
be made to the administrator or executor of his or her estate or, if the Administrator permits, his or her designated beneficiary, unless
otherwise required to comply with Applicable Laws. Any such transferee must furnish the Company with (a) written notice of his or
her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with
any laws or regulations that apply to the transfer.
7. Tax
Obligations.
(a) Tax Withholding.
(i) No
Shares will be issued to the Participant until he or she makes satisfactory arrangements (as determined by the Administrator) for the
payment of Tax Withholdings. If the Participant is a non-U.S. employee, the method of payment of Tax Withholdings may be restricted by
any Appendix (as defined below). If the Participant fails to make satisfactory arrangements for the payment of any Tax Withholdings under
this Agreement when any of these RSUs otherwise are supposed to vest or Tax Withholdings related to RSUs otherwise are due, he or she
will permanently forfeit the applicable RSUs and any right to receive Shares under such RSUs, and such RSUs will be returned to the Company
at no cost to the Company, to the extent permitted by Applicable Laws.
- 5 -
(ii) The
Company has the right (but not the obligation) to satisfy any Tax Withholdings by withholding from proceeds of a sale of Shares acquired
upon payment of these RSUs arranged by the Company (on the Participant’s behalf pursuant to this authorization without further consent),
and this will be the method by which such tax withholding obligations are satisfied until the Company determines otherwise, subject to
Applicable Laws.
(iii) The
Company also has the right (but not the obligation) to satisfy any Tax Withholdings: (a) by reducing the number of Shares otherwise deliverable
to the Participant; (b) by requiring payment by cash or check made payable to the Company and/or any Service Recipient with respect to
which the withholding obligation arises; (c) by deduction of such amount from salary, wages or other compensation payable to the Participant;
or (d) in any combination of the foregoing, or any other method determined by the Administrator to be compliance with Applicable Laws.
(iv) The
Company may withhold or account for Tax Withholdings by considering statutory or other withholding rates, including minimum or maximum
rates applicable in the Participant’s jurisdiction(s). In the event of over-withholding, the Participant may receive a refund of
any over-withheld amount in cash (with no entitlement to the equivalent in Common Stock), or if not refunded, the Participant may seek
a refund from the local tax authorities. In the event of under-withholding, the Participant may be required to pay any additional Tax
Withholdings directly to the applicable tax authority or to the Company and/or the Employer(s). If the obligation for Tax Withholdings
is satisfied by withholding in Shares, for tax purposes, the Participant will be deemed to have been issued the full number of Shares
subject to the vested RSUs, notwithstanding that a number of the Shares is held back solely for the purpose of paying the Tax Withholdings.
(v) Further,
if the Participant is subject to taxation in more than one jurisdiction between the Grant Date and the date of any relevant taxable or
tax withholding event, the Company or the Employer(s) or former Employer(s) may withhold or account for tax in more than one jurisdiction.
(vi) Regardless
of any action of the Company or the Employer(s), the Participant acknowledges that the ultimate liability for all Tax Withholdings and
any and all additional taxes related to the Award, the Shares or other amounts or property delivered under the Award and the Participant’s
participation in the Plan is and remains his or her responsibility and may exceed the amount actually withheld by the Company or the Employer(s).
The Participant further acknowledges that the Company and the Employer(s) (1) make no representations or undertakings regarding the treatment
of any Tax Withholdings in connection with any aspect of these RSUs and (2) do not commit to and are under no obligation to structure
the terms of the grant or any aspect of these RSUs to reduce or eliminate his or her liability for Tax Withholdings or achieve any particular
tax result.
(b) Code Section 409A.
It is the intent of this Agreement that it and all issuances and benefits to U.S. taxpayers hereunder be exempt or excepted from the
requirements of Code Section 409A pursuant to the “short-term deferral” exception under Code Section 409A, or otherwise be
exempted or excepted from, or comply with, Code Section 409A, so that none of this Agreement, the RSUs provided under this Agreement,
or Shares issuable thereunder will be subject to the additional tax imposed under Code Section 409A, and any ambiguities or ambiguous
terms herein will be interpreted to be so exempt or excepted, or to so comply. Each issuance upon settlement of the RSUs under this Agreement
is intended to constitute a separate payment for purposes of Treasury Regulation Section 1.409A-2(b)(2). In no event will any member
of the Company Group have any liability or obligation to reimburse, indemnify, or hold harmless Participant for any taxes that may be
imposed, or other costs incurred, on Participant as a result of Code Section 409A.
8. Rights
as Stockholder. The Participant’s or any other person’s rights as a stockholder of the Company (including the right to
vote and to receive dividends and distributions) will not begin until Shares have been issued and recorded on the records of the Company
or its transfer agents or registrars.
- 6 -
9. Acknowledgements
and Agreements. The Participant’s signature on the Notice of Grant accepting these RSUs indicates that:
(a) HE
OR SHE ACKNOWLEDGES AND AGREES THAT THE VESTING OF THESE RSUS IS EARNED ONLY BY CONTINUING AS A SERVICE PROVIDER AND THAT BEING HIRED
OR BEING GRANTED THESE RSUS WILL NOT RESULT IN VESTING.
(b) HE
OR SHE FURTHER ACKNOWLEDGES AND AGREES THAT THESE RSUS AND THIS AGREEMENT DO NOT CREATE AN EXPRESS OR IMPLIED PROMISE OF CONTINUED ENGAGEMENT
AS A SERVICE PROVIDER FOR THE VESTING PERIOD, FOR ANY PERIOD, OR AT ALL AND WILL NOT INTERFERE IN ANY WAY WITH HIS OR HER RIGHT OR THE
RIGHT OF THE EMPLOYER(S) TO TERMINATE HIS OR HER RELATIONSHIP AS A SERVICE PROVIDER AT ANY TIME, WITH OR WITHOUT CAUSE, SUBJECT TO APPLICABLE
LAWS.
(c) The
Participant agrees that this Agreement and its incorporated documents reflect all agreements on its subject matters and that he or she
is not accepting this Agreement based on any promises, representations, or inducements other than those reflected in the Agreement.
(d) The
Participant agrees that the Company’s delivery of any documents related to the Plan or these RSUs (including the Plan, the Agreement,
the Plan’s prospectus, and any reports of the Company provided generally to the Company’s stockholders) to him or her may
be made by electronic delivery, which may include but does not necessarily include the delivery of a link to a Company intranet or to
the Internet site of a third party involved in administering the Plan, the delivery of the document via email, or any other means of electronic
delivery specified by the Company. If the attempted electronic delivery of such documents fails, the Participant will be provided with
a paper copy of the documents. The Participant acknowledges that he or she may receive from the Company a paper copy of any documents
that were delivered electronically at no cost to him or her by contacting the Company by telephone or in writing. The Participant may
revoke his or her consent to the electronic delivery of documents or may change the electronic mail address to which such documents are
to be delivered (if the Participant has provided an electronic mail address) at any time by notifying the Company of such revoked consent
or revised e-mail address by telephone, postal service or electronic mail. Finally, the Participant understands that he or she is not
required to consent to electronic delivery of documents.
(e) The
Participant may deliver any documents related to the Plan or these RSUs to the Company by e-mail or any other means of electronic delivery
approved by the Administrator, but he or she must provide the Company or any designated third party administrator with a paper copy of
any documents if his or her attempted electronic delivery of such documents fails.
(f) The
Participant accepts that all good faith decisions or interpretations of the Administrator regarding the Plan and Awards under the Plan
are binding, conclusive, and final. No member of the Administrator will be personally liable for any such decisions or interpretations.
(g) The
Participant agrees that the Plan is established voluntarily by the Company, is discretionary in nature, and may be amended, suspended,
or terminated by the Company at any time, to the extent permitted by the Plan.
(h) The
Participant agrees that the grant of these RSUs is exceptional, voluntary and occasional and does not create any contractual or other
right to receive future grants of restricted stock units or benefits in lieu of restricted stock units, even if restricted stock units
have been granted in the past.
(i) The
Participant agrees that any decisions regarding future Awards will be in the Company’s sole discretion.
(j) The
Participant agrees that he or she is voluntarily participating in the Plan.
(k) The
Participant agrees that these RSUs and any Shares acquired under these RSUs, and the income from and value of same, are not intended to
replace any pension rights or compensation.
- 7 -
(l) The
Participant agrees that these RSUs, any Shares acquired under these RSUs, and the income from and value of same, are not part of normal
or expected compensation for any purpose, including, but not limited to, calculating any severance, resignation, termination, redundancy,
dismissal, end-of-service payments, bonuses, holiday pay, long-service awards, pension or retirement or welfare benefits, or similar payments.
(m) The
Participant agrees that the future value of the Shares underlying these RSUs is unknown, indeterminable, and cannot be predicted with
certainty.
(n) The
Participant agrees that no member of the Company Group is liable for any foreign exchange rate fluctuation between the Participant’s
local currency and the United States Dollar that may affect the value of these RSUs or of any amounts due to him or her from the payment
of these RSUs or the subsequent sale of any Shares acquired upon such payment.
(o) Unless
otherwise provided in the Plan or by the Administrator in its discretion, the RSUs and the benefits evidenced in this Agreement do not
create any entitlement to have the RSUs or any such benefits transferred to, or assumed by, another company, nor to be exchanged, cashed
out or substituted for, in connection with any corporate transaction affecting the Shares.
(p) The
Participant agrees that he or she has no claim or entitlement to compensation or damages from any forfeiture of these RSUs resulting from
the termination of his or her status as a Service Provider (for any reason whatsoever, whether or not later found to be invalid or in
breach of employment laws in the jurisdiction where he or she is a Service Provider or the terms of his or her service agreement, if any).
10. Data
Privacy.
(a) The
Participant voluntarily consents to the collection, use and transfer, in electronic or other form, of his or her personal data as described
in this Agreement and any other Award materials (“Data”) by and among, as applicable, the Employer(s), the Company
and any member of the Company Group for the exclusive purpose of implementing, administering, and managing his or her participation in
the Plan.
(b) The
Participant understands that the Company and the Employer(s) may hold certain personal information about him or her, including, but not
limited to, his or her name, home address and telephone number, date of birth, social insurance number or other identification number,
salary, nationality, job title, any shares of stock or directorships held in the Company, details of all equity awards or any other entitlement
to stock awarded, canceled, exercised, vested, unvested or outstanding in his or her favor, for the exclusive purpose of implementing,
administering, and managing the Plan.
(c) The
Participant understands that Data will be transferred to one or more stock plan service provider(s) selected by the Company, which may
assist the Company with the implementation, administration, and management of the Plan. The Participant understands that the recipients
of the Data may be located in the United States or elsewhere, and that the recipient’s country (e.g., the United States) may have
different data privacy laws and protections than his or her country. The Participant understands that if he or she resides outside the
United States, he or she may request a list with the names and addresses of any potential recipients of the Data by contacting his or
her local human resources representative. The Participant authorizes the Company and any other possible recipients that may assist the
Company (presently or in the future) with implementing, administering and managing the Plan to receive, possess, use, retain and transfer
the Data, in electronic or other form, for the sole purposes of implementing, administering and managing his or her participation in the
Plan.
(d) The
Participant understands that Data will be held only as long as is necessary to implement, administer and manage his or her participation
in the Plan. The Participant understands that if he or she resides in certain jurisdictions outside the United States, to the extent required
by Applicable Laws, he or she may, at any time, request access to Data, request additional information about the storage and processing
of Data, require any necessary amendments to Data or refuse or withdraw the consents given by accepting these RSUs, in any case without
cost, by contacting in writing his or her local human resources representative. Further, the Participant understands that he or she is
providing these consents on a purely voluntary basis. If the Participant does not consent or if he or she later seeks to revoke his or
her consent, his or her engagement as a Service Provider with the Employer(s) will not be adversely affected; the only consequence of
refusing or withdrawing his or her consent is that the Company will not be able to grant him or her awards under the Plan or administer
or maintain awards. Therefore, the Participant understands that refusing or withdrawing his or her consent may affect his or her ability
to participate in the Plan (including the right to retain these RSUs). The Participant understands that he or she may contact his or her
local human resources representative for more information on the consequences of his or her refusal to consent or withdrawal of consent.
- 8 -
11. Insider
Trading Restrictions/Market Abuse Laws. The Participant acknowledges that he or she may be subject to insider trading restrictions
and/or market abuse laws in applicable jurisdictions including, but not limited to, the United States and the Participant’s country
of residence, which may affect the Participant’s ability to acquire or sell Shares or rights to Shares (e.g., RSUs) under the Plan
during such time as the Participant is considered to have “inside information” regarding the Company (as defined by the laws
in the applicable jurisdictions). Local insider trading laws and regulations may prohibit the cancellation or amendment of orders the
Participant placed before the Participant possessed inside information. Furthermore, the Participant could be prohibited from (i) disclosing
the inside information to any third party and (ii) “tipping” third parties or causing them otherwise to buy or sell securities.
The Participant should keep in mind third parties includes fellow employees. Any restrictions under these laws or regulations are separate
from and in addition to any restrictions that may be imposed under any applicable insider trading policy of the Company. The Participant
is responsible for ensuring compliance with any applicable restrictions and should consult with his or her personal legal advisor on this
matter.
12. Foreign
Asset/Account Reporting Requirements. Depending on the Participant’s country, the Participant may be subject to foreign asset/account,
exchange control and/or tax reporting requirements as a result of the vesting of the RSUs, the acquisition, holding and/or transfer of
Shares or cash resulting from participation in the Plan and/or the opening and maintaining of a brokerage or bank account in connection
with the Plan. The Participant may be required to report such assets, accounts, account balances and values, and/or related transactions
to the applicable authorities in his or her country. The Participant may also be required to repatriate sale proceeds or other funds received
as a result of his or her participation in the Plan to his or her country through a designated bank or broker and/or within a certain
time after receipt. The Participant acknowledges that he or she is responsible for ensuring compliance with any applicable foreign asset/account,
exchange control and tax reporting and other requirements. The Participant further understands that he or she should consult the Participant’s
personal tax and legal advisors, as applicable on these matters.
13. Miscellaneous.
(a) Address for Notices.
Any notice to be given to the Company under the terms of this Agreement must be addressed to the Company at HeartBeam, Inc., 2118 Walsh
Avenue, Suite 210, Santa Clara, CA 95050 until the Company designates another address in writing.
(b) Non-Transferability
of RSUs. These RSUs may not be transferred other than by will or the applicable laws of descent or distribution.
(c) Binding Agreement.
If any RSUs are transferred, this Agreement will be binding upon and inure to the benefit of the heirs, legatees, legal representatives,
successors, and assigns of the parties to this Agreement.
(d) Additional Conditions
to Issuance of Stock. If at any time the Company determines, in its discretion, that the listing, registration, qualification or
rule compliance of the Shares upon any securities exchange or under any U.S. or non-U.S. federal, state or local law the tax Code and
related regulations or under the rulings or regulations of the United States Securities and Exchange Commission or any other governmental
regulatory body or the clearance, consent or approval of the United States Securities and Exchange Commission or any other governmental
regulatory authority is necessary or desirable as a condition to the issuance of Shares to Participant hereunder, such issuance will
not occur unless and until such listing, registration, qualification, rule compliance, clearance, consent or approval will have been
completed, effected or obtained free of any conditions not acceptable to the Company. If any such listing, registration, qualification,
rule compliance, clearance, consent or approval has not been completed by the applicable Settlement Deadline with respect to a Restricted
Stock Unit in a manner that would allow it to be settled by the applicable Settlement Deadline, such Restricted Stock Unit will be forfeited
as of immediately following the Settlement Deadline for no consideration and at no cost to the Company. Subject to the terms of this
Agreement and the Plan, the Company shall not be required to issue any certificate or certificates for Shares hereunder prior to the
lapse of such reasonable period of time following the date of vesting of a Restricted Stock Unit as the Administrator may establish from
time to time for reasons of administrative convenience and any such certificate may be in book entry form.
(e) Captions. Captions
provided in this Agreement are for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.
(f) Agreement Severable.
If any provision of this Agreement is held invalid or unenforceable, that provision will be severed from the remaining provisions of
this Agreement and the invalidity or unenforceability will have no effect on the remainder of the Agreement.
- 9 -
(g) Non-U.S. Appendix.
These RSUs are subject to any special terms and conditions set forth in any appendix to this Agreement for the Participant’s country
(the “Appendix”). If the Participant relocates to a country included in the Appendix, the special terms and conditions
for that country will apply to him or her to the extent the Company determines that applying such terms and conditions is necessary or
advisable for legal or administrative reasons.
(h) Imposition of Other
Requirements. The Company reserves the right to impose other requirements on the Participant’s participation in the Plan, on
the RSUs and on any Shares acquired under the Plan, to the extent the Company determines it is necessary or advisable for legal or administrative
reasons, and to require the Participant to sign any additional agreements or undertakings that may be necessary to accomplish the foregoing;
provided, however, that no such imposition of other requirements shall occur or be effective unless such imposition would result in these
RSUs remaining exempt or excepted from the requirements of Code Section 409A pursuant to the “short-term deferral” exception
or another exception or exemption under Code Section 409A, or otherwise complying with Code Section 409A, in each case such that none
of this Agreement, the RSUs provided under this Agreement, or Shares, cash or other property issuable hereunder will be subject to the
additional tax imposed under Code Section 409A.
(i) Choice of Law; Choice
of Forum. The Plan, this Agreement, these RSUs, and all determinations made and actions taken under the Plan, to the extent not otherwise
governed by the laws of the United States, will be governed by the laws of the State of Delaware without giving effect to principles
of conflicts of law. For purposes of litigating any dispute that arises under the Plan, the Participant’s acceptance of these RSUs
is his or her consent to the jurisdiction of the State of Delaware and his or her agreement that any such litigation will be conducted
in the Delaware Court of Chancery or the federal courts for the United States for the District of Delaware and no other courts, regardless
of where he or she is performing services.
(j) Modifications to the
Agreement. The Plan and this Agreement constitute the entire understanding of the parties on the subjects covered. The Participant
expressly warrants that he or she is not accepting this Agreement in reliance on any promises, representations, or inducements other
than those contained herein. Modifications to this Agreement or the Plan can be made only in an express written contract executed by
a duly authorized officer of the Company. Notwithstanding anything in the Plan or this Agreement to the contrary, but subject to Section
13(h), the Administrator may, without the consent of the Participant, modify this Agreement in any of the following manners: (a) take
any action permitted by Section 4 of this Agreement, including to waive or decrease, in whole or in part, some or all of the requirements
required for vesting of all or a portion of the unvested RSUs; or (b) waive or decrease some or all of the requirements for settlement
of RSUs. The Company reserves the right to revise this Agreement as it deems necessary or advisable, in its sole discretion and without
the consent of the Participant, to comply with Code Section 409A, to otherwise avoid imposition of any additional tax or income recognition
under Code Section 409A in connection with these RSUs, or to comply with other Applicable Laws.
(k) Waiver. The Participant
acknowledges that a waiver by the Company of a breach of any provision of this Agreement will not operate or be construed as a waiver
of any other provision of this Agreement or of any subsequent breach of this Agreement by him or her.
(l) Language.
The Participant acknowledges that the Participant is sufficiently proficient in English, or has consulted with an advisor who is sufficiently
proficient in English, so as to allow the Participant to understand the terms of this Agreement. If Participant has received this Agreement,
or any other document related to these RSUs and/or the Plan translated into a language other than English and if the meaning of the translated
version is different than the English version, the English version will control.
**remainder of page
intentionally blank**
- 10 -
EXHIBIT B
APPENDIX TO RESTRICTED
STOCK UNIT AGREEMENT
Terms and Conditions
This Appendix to Restricted
Stock Unit Agreement (the “Appendix”) includes additional terms and conditions that govern these RSUs granted
to the Participant under the Plan if he or she resides and/or works in one of the countries listed below on the Grant Date or he or she
moves to one of the listed countries. Unless otherwise defined herein, capitalized terms used but not defined herein shall have the same
meanings as set forth in the Plan and the Agreement.
If the Participant is
a citizen or resident of a country (or if the Participant is considered as such for local law purposes) other than the one in which the
Participant is currently residing and/or working, or if the Participant transfers to another country after being granted the RSUs, the
Company will, in its discretion, determine the extent to which the terms and conditions contained herein will be applicable to the Participant.
Notifications
This Appendix may also
include information regarding securities laws, exchange controls and certain other issues of which the Participant should be aware with
respect to participation in the Plan. The information is based on the securities, exchange control, and other Applicable Laws in effect
in the respective countries as of ________. Such laws are often complex and change frequently. As a result, the Company strongly recommends
that the Participant not rely on the information in this Appendix as the only source of information relating to the consequences of participation
in the Plan because the information may be out of date at the time the Participant vests in or sells the Shares acquired under the Plan.
In addition, the information
contained in this Appendix is general in nature and may not apply to the Participant’s particular situation, and the Company is
not in a position to assure him or her of a particular result. The Participant is advised to seek appropriate professional advice as to
how the relevant laws in his or her country may apply to his or her situation.
Finally, if the Participant
is a citizen or resident of a country other than the one in which he or she is currently residing and/or working, transfers employment
after these RSUs are granted, or is considered a resident of another country for local law purposes, the information in this Appendix
may not apply to him or her, and the Administrator will determine to what extent the terms and conditions in this Appendix apply.
Countries
______________
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- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
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- Definition
Name of the state or province.
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No definition available.
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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Period Type:
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Balance Type:
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Period Type:
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X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 7A
-Section B
-Subsection 2
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Name:
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Namespace Prefix:
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Data Type:
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X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
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Data Type:
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Balance Type:
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Period Type:
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X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
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Namespace Prefix:
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Data Type:
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Balance Type:
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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Period Type:
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- Definition
Local phone number for entity.
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No definition available.
+ Details
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Balance Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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Data Type:
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Balance Type:
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- Definition
Title of a 12(b) registered security.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
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- Definition
Name of the Exchange on which a security is registered.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
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Data Type:
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- Definition
Trading symbol of an instrument as listed on an exchange.
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No definition available.
+ Details
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Data Type:
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Balance Type:
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Period Type:
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
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Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
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- Details
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- Details
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