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GridAI Technologies Corp.

For the period ended Dec 31, 2025. Filed May 1, 2026.

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FY2025 · Filed May 1, 2026

GRDX$5.35+8.7%Stored close · as of Nov 9, 2026

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Contents

Item 11. Executive Compensation

ITEM 11.EXECUTIVE COMPENSATION

Summary Compensation

The table set forth below reflects certain information regarding the compensation paid or accrued during the years ended December 31, 2025 and 2024 to our Chief Executive Officer and our executive officers, other than our Chief Executive Officer, who were serving as an executive officer as of December 31, 2024, and whose annual compensation exceeded $100,000 during such year (collectively the “Named Executive Officers”).

Executive Compensation

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​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · Stock · ​ · All Other · ​ · ​ · ​
Named Executive Officers · ​ ​ ​ · Year · ​ ​ ​ · Salary · ​ ​ ​ · Bonus · ​ ​ ​ · Award · ​ ​ ​ · Compensation · ​ ​ ​ · Total
Jason Sawyer (CEO)​2025​$—​$—​$93,200(1)$87,500(2)$180,700
Richard Paolone (Former CEO) (6)2025​​87,500​​—​​​​​15,228(3)​102,728
James Sapirstein (Former CEO)2024​​416,300​​—​​76,400(4)​17,608(5)​510,308
Anna Skowron​2025​​103,387​​—​​151,450(1)​—​​254,837
Sarah Romano (Former CFO)2024​​390,550​​117,165(1)​185,676(4)​117,165​​810,556
(1)Represents the grant date fair value of restricted stock units issued during the year ended December 31, 2025, calculated in accordance with ASC Topic 718. The assumptions used in the calculation of these amounts are included in Note 11 of the consolidated financial statements contained in this Annual Report.
(2)Jason Sawyer served as Chief Executive Officer pursuant to a consulting agreement and was not an employee of the Company during 2025. Accordingly, amounts paid to Mr. Sawyer, including consulting fees of $75,000 and director fees of $12,500, are reflected in “All Other Compensation.”
(3)Represents director fees of $15,228 paid to Richard Paolone during the period he served as a member of the Board of Directors.
(4)Represents the grant date fair value of restricted stock units issued during the year ended December 31, 2024. The assumptions used in the calculation of these amounts are included in Note 11 of the notes to the consolidated financial statements contained in this Annual Report.
(5)Represents reimbursement of COBRA paid during the year ended December 31, 2024.
(6)Mr. Paolone served as Interim Chief Executive Officer until his termination without cause effective September 3, 2025.
(7)Mr. Sawyer was appointed Interim Chief Executive Officer effective September 4, 2025.

Employment Arrangements and Potential Payments upon Termination or Change of Control

Sawyer Consulting Agreement. Effective as of September 4, 2025, we entered into a consulting agreement with Access Alternative Group S.A., a Bahamian corporation (the “Consultant”), in connection with Mr. Sawyer’s role as Interim Chief Executive Officer (the “Consulting Agreement”). Pursuant to the Consulting Agreement the company paid compensation of $12,500 per month. The Company was also obligated to defend and indemnify Mr. Sawyer in his capacity as Interim Chief Executive Officer to the fullest extent permitted under the Delaware General Corporation Law (“DGCL”) and also to maintain a policy for indemnifying its officers and directors, including Mr. Sawyer, for all actions permitted under the DGCL taken in good faith pursuit of their duties for the Company. On December 19, 2025, we entered into Amended and Restated Consulting Agreement (the “A&R Consulting Agreement”) with the Consultant in connection with the appointment of Mr. Sawyer as the Company’s Chief Executive Officer.

Pursuant to the A&R Consulting Agreement, the Consultant is entitled to (i) base compensation of $25,000 per month, retroactive to October 1, 2025, (ii) a quarterly fee of $20,000 per quarter for each quarter that the Company remains in compliance with Nasdaq rules and listing requirements with the first of such quarterly payments beginning on January 1, 2026 (if applicable), and (iii) a one-time payment of $150,000 and 400,000 shares issuable under the Company’s equity incentive plan, payable upon shareholder approval of the Company’s acquisition of Grid AI Corp. The Consulting Agreement further provides for equity compensation in the

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form of restricted stock units covering 1,000,000 shares of the Company’s common stock, with 25% vesting at the end of each calendar quarter of 2026 upon successful execution of the Company’s quarterly objectives and tasks, and with immediate vesting upon the earlier of: (a) termination without Cause, (b) a Change in Control (as defined in the A&R Consulting Agreement), or (c) the time more than 50% of the Company’s Series H preferred stock has been converted into shares of common stock of the Company.

The A&R Consulting Agreement has an initial two-year term commencing on December 19, 2025, and is renewable on a yearly basis at the Company’s discretion. The Consultant may terminate the Consulting Agreement upon not less than 30 days’ prior notice, and the Company may terminate the Consulting Agreement upon 10 business days’ prior notice. If the A&R Consulting Agreement is terminated for any reason other than for “Cause” (as defined in the A&R Consulting Agreement) before the end of the initial two-year term (or any renewal term), the Consultant is entitled to pro-rated cash severance equal to the remaining base compensation and the quarterly fee related to compliance with compliance with the Nasdaq rules and listing requirements for the unexpired portion of such term. The A&R Consulting Agreement also provides that the Company will defend and indemnify Mr. Sawyer in his capacity as Chief Executive Officer to the fullest extent permitted under the DGCL and maintain directors’ and officers’ liability insurance, subject to the terms set forth in the Consulting Agreement.

Skowron Consulting Agreement. We entered into a consulting agreement in connection with Ms. Skowron’s role as Interim Chief Financial Officer, pursuant to which she will receive compensation of $8,333 per month, effective as of the March 7, 2025. The Company will also defend and indemnify Ms. Skowron in her capacity as Chief Financial Officer of the Company to the fullest extent permitted under the DGCL and shall also maintain a policy for indemnifying its officers and directors, including Ms. Skowron, for all actions permitted under the DGCL taken in good faith pursuit of their duties for the Company

Paolone Consulting Agreement. On March 6, 2025, we entered into a consulting agreement in connection with Mr. Paolone’s role as Interim Chief Executive Officer, effective as of February 12, 2025, pursuant to which he will receive compensation of $12,500 per month. The Company will also defend and indemnify Mr. Paolone in his capacity as Chief Executive Officer of the Company to the fullest extent permitted under the DGCL and shall also maintain a policy for indemnifying its officers and directors, including Mr. Paolone, for all actions permitted under the DGCL taken in good faith pursuit of their duties for the Company. On September 3, 2025, in connection with his termination as Interim Chief Executive Officer and Chairman of the Board, the Company terminated the consulting agreement with Mr. Paolone. On November 28, 2025, Mr. Paolone notified the Company of his resignation as a director of the Company and in connection with this departure we entered into a Separation Agreement and Mutual Release (the “Separation Agreement”) with Mr. Paolone and 2818390 Ontario Corp., an Ontario, Canada corporation. Under the Separation Agreement we agreed to pay Mr. Paolone $500,000, consisting of an initial payment of $350,000 due upon the Effective Date (as defined in the separation Agreement), followed by three (3) monthly payments of $50,000 each, with installments payable respectively on January 1, 2026, February 1, 2026 and March 1, 2026, along with his legal fees in the amount of $50,000 in connection with the entry into the Separation Agreement.

Sapirstein Employment Agreement. Effective October 8, 2019, we entered into an employment agreement with Mr. Sapirstein to serve as our President and Chief Executive Officer for a term of three years, subject to further renewal upon agreement of the parties. The employment agreement with Mr. Sapirstein originally provided for a base salary of $450,000 per year, which was subsequently increased to $480,000 per year during the year ended December 31, 2020 and to $513,600 during the year ended December 31, 2023. In addition to the base salary, Mr. Sapirstein is eligible to receive (i) an initial bonus of up to 40% of his base salary on an annual basis, based on certain milestones that are yet to be determined, that was increased to a bonus of up to 50% of his base salary effective January 1, 2023; (ii) 1% of net fees received by us upon entering into license agreements with any third-party with respect to any product currently in development or upon the sale of all or substantially all of our assets; (iii) a grant of 33 restricted shares of our Common Stock which are subject to vesting as follows (a) 16 upon the first commercial sale of Adrulipase in the U.S., and (b) 17 upon our total market capitalization exceeding $1.0 billion for 20 consecutive trading days; (iv) a grant of 50 10-year stock options to purchase shares of our Common Stock which are subject to vesting as follows (a) 8 upon us initiating our next Phase 2 clinical trial in the U.S. for Adrulipase, (b) 8 upon us completing our next or subsequent Phase 2 clinical trial in the U.S. for Adrulipase, (c) 17 upon us initiating a Phase 2 clinical trial in the U.S. for Adrulipase, and (d) 17 upon us initiating a Phase 1 clinical trial in the U.S. for any product other than Adrulipase. Mr. Sapirstein was entitled to receive 20 days of paid vacation, participate in full employee health benefits and receive reimbursement for all reasonable expenses incurred in connection with his services to us.

Pursuant to the terms of his employment agreement, in the event that Mr. Sapirstein’s employment was terminated by us for Cause, as defined in his employment agreement, or by Mr. Sapirstein voluntarily, then would not be entitled to receive any payments beyond amounts already earned, and any unvested equity awards will terminate. In the event that Mr. Sapirstein’s employment was terminated as a result of an Involuntary Termination Other than for Cause, as defined in the Agreement, Mr. Sapirstein would be entitled

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to receive the following compensation: (i) severance in the form of continuation of his salary (at the Base Salary rate in effect at the time of termination, but prior to any reduction triggering Good Reason) for a period of 12 months following the termination date; (ii) payment of Executive’s premiums to cover COBRA for a period of 12 months following the termination date; and (iii) a prorated annual bonus.

On August 2, 2024, the Board approved the termination of the employment agreement with Mr. Sapirstein. Mr. Sapirstein did not receive any additional compensation or payments in connection with the termination of his employment agreement. Also on August 2, 2024, the Company and Mr. Sapirstein entered into a consulting agreement with Mr. Sapirstein pursuant to which the Company agreed to pay Mr. Sapirstein $400 an hour monthly for services rendered to the Company. Should travel be required, Mr. Sapirstein will additionally be compensated $200 per hour for travel time plus expenses and the federal mileage rate for car travel. The consulting agreement was terminated on February 2, 2025.

Romano Employment Agreement*.* Effective March 1, 2022, we entered into an employment agreement with Ms. Romano to serve as our Chief Financial Officer for a term of three years, subject to further renewal upon agreement of the parties. The employment agreement with Ms. Romano provides for a base salary of $365,000 per year, which was subsequently increased to $390,550 during the year ended December 31, 2023, and to $435,000 during the year ended December 31, 2024. In addition to the base salary, Ms. Romano is eligible to receive an annual milestone cash bonus of 35% of her annual salary based on certain milestones established by our Board or the Compensation Committee, which was subsequently increased to 40% on January 1, 2023. On March 1, 2022, Ms. Romano was granted stock options to purchase 250 shares of Common Stock on March 1, 2022, with an exercise price of $708.00 per share, which shall vest in over a term of three years pursuant to her employment agreement. Ms. Romano was entitled to receive 20 days of paid vacation, participate in full employee health benefits and receive reimbursement for all reasonable expenses incurred in connection with her service to us.

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In the event that Ms. Romano’s employment was terminated by us for Cause, as defined in Ms. Romano’s employment agreement, or by Ms. Romano voluntarily, she would not be entitled to receive any payments beyond amounts already earned, and any unvested equity awards would terminate. If we terminate her employment agreement without Cause, not in connection with a Change of Control, as such term is defined in Ms. Romano’s employment agreement, she would be entitled to (i) all salary owed through the date of termination; (ii) any unpaid annual milestone bonus; (iii) severance in the form of continuation of her salary for the greater of a period of six months following the termination date or the remaining term of the employment agreement; (iv) payment of premiums to cover COBRA for a period of six months following the termination date; (v) a prorated annual bonus equal to the target annual milestone bonus, if any, for the year of termination multiplied by the formula set forth in the agreement. If we terminate Ms. Romano’s employment agreement without Cause, in connection with a Change of Control, she would be entitled to the above and immediate accelerated vesting of any unvested options or other unvested awards.

Ms. Romano’s employment agreement expired pursuant to its terms on February 28, 2025 and Ms. Romano did not receive any additional compensation in connection with this expiration. Effective March 7, 2025 Ms. Romano resigned from her position as Chief Financial Officer.

Outstanding Equity Incentive Awards at Fiscal Year-End

As of December 31, 2025, none of the Company’s Named Executive Officers held any unexercised options or unvested stock awards.

Non-Executive Director Compensation

Effective October 1, 2022, following an independent review of external benchmarks, our Board adopted an updated Non-Executive Director Compensation Policy under which each of our non-executive directors is entitled to receive the following cash compensation for their service on the Board (paid quarterly): (i) an annual retainer of $60,000, (ii) the lead independent director an annual retainer of $20,000, (iii) the chair of the Audit Committee is entitled to receive an additional annual retainer in the amount of $15,000, (iv) each non-chairperson member of the Audit Committee is entitled to receive an additional annual retainer in the amount of $7,500, (v) the chair of the Compensation Committee is entitled to receive an additional annual retainer in the amount of $12,500, (vi) each non-chairperson member of the Compensation Committee is entitled to receive an additional annual retainer in the amount of $6,000, (vii) the chair of the Corporate Governance and Nominating Committee is entitled to receive an additional annual retainer in the amount of $10,000, and (viii) each non-chairperson member of the Corporate Governance and Nominating Committee is entitled to receive an additional annual retainer in the amount of $5,000. Additionally, under this policy, each of our non-executive directors is entitled to receive an annual grant, effective on the date of the Company’s annual meeting of stockholders, of restricted stock unit awards for their service on the Board equivalent to $75,000, which vests in equal quarterly installments.

Our Board will review the Non-Executive Director Compensation Policy on an annual basis prior to September 1 of each year.

The following table provides information regarding compensation paid to non-employee directors for the year ended December 31, 2025. Jason Sawyer did not receive compensation for his service on the Board in his capacity as Chief Executive Officer, other than director fees. Information regarding compensation paid to Mr. Sawyer in his capacity as Chief Executive Officer is reflected in the Summary Compensation Table under “Executive Compensation.”

​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​ · ​
​ · ​ · Fees Earned or · ​ · Stock · ​ · Option · ​ · All Other · ​ · ​ · ​
Non-Executive Directors​ ​ ​Paid in Cash(1)​ ​ ​Award (2)​ ​ ​Award​ ​ ​Compensation​ ​ ​Total
Edward J. Borkowski​$70,841​$93,200​$—​$—​$164,041
Manpreet Uppal​$40,787​$93,200​$—​$—​$133,987
Geordan G. Pursglove​$18,125​$93,200​$—​$—​$111,325
Eric Corbett (3)​$33,915​$—​$—​$—​$33,915
Jason Sawyer​$12,500​$—​$—​$—​$12,500
Jack Syage​$26,518​$93,200​$—​$—​$119,718
(1)Represents cash compensation earned for board service during the year ended December 31, 2025.
(2)Represents the aggregate grant date fair value of restricted stock units granted to non-employee directors, determined in accordance with ASC Topic 718. Although the awards are dated January 1, 2026, they were approved in December 2025 and are considered granted as of December 31, 2025.

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(3)Eric Corbett served as a member of the Board of Directors from February 2025 until his departure in September 2025.

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