0001654954-24-005406.txt : 20240501 0001654954-24-005406.hdr.sgml : 20240501 20240501161013 ACCESSION NUMBER: 0001654954-24-005406 CONFORMED SUBMISSION TYPE: 3 PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20240422 FILED AS OF DATE: 20240501 DATE AS OF CHANGE: 20240501 REPORTING-OWNER: OWNER DATA: COMPANY CONFORMED NAME: Gannon Chris M CENTRAL INDEX KEY: 0001645284 ORGANIZATION NAME: FILING VALUES: FORM TYPE: 3 SEC ACT: 1934 Act SEC FILE NUMBER: 001-41420 FILM NUMBER: 24903065 MAIL ADDRESS: STREET 1: 1717 DOOLITTLE DRIVE CITY: SAN LEANDRO STATE: CA ZIP: 94577 ISSUER: COMPANY DATA: COMPANY CONFORMED NAME: 374Water Inc. CENTRAL INDEX KEY: 0000933972 STANDARD INDUSTRIAL CLASSIFICATION: MOTORS & GENERATORS [3621] ORGANIZATION NAME: 04 Manufacturing IRS NUMBER: 880271109 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 BUSINESS ADDRESS: STREET 1: 701 W. MAIN STREET STREET 2: SUITE 410 CITY: DURHAM STATE: NC ZIP: 27701 BUSINESS PHONE: 919-888-8194 MAIL ADDRESS: STREET 1: 3710 SHANNON RD #51877 STREET 2: SUITE 410 CITY: DURHAM STATE: NC ZIP: 27717 FORMER COMPANY: FORMER CONFORMED NAME: POWERVERDE, INC. DATE OF NAME CHANGE: 20080820 FORMER COMPANY: FORMER CONFORMED NAME: VYREX CORP DATE OF NAME CHANGE: 19951206 3 1 section16.xml FORM 3 X0206 3 2024-04-22 0 0000933972 374Water Inc. SCWO 0001645284 Gannon Chris M C/O 374WATER INC. 701 W. MAIN STREET, SUITE 410 DURHAM NC 27701 true CEO and President Restricted Stock Units 0 Common Stock, $0.001 par value 2250000 D Option to Purchase Common Stock 1.25 2034-04-22 Common Stock, $0.001 par value 5250000 D The Restricted Stock Units (the "RSUs") and Option to Purchase Common Stock reported herein were granted to the Reporting Person on April 22, 2024 pursuant to his Employment Agreement (the "Employment Agreement"), dated as of April 19, 2024 and effective as of April 22, 2024 (the "Effective Date"). Under the Employment Agreement and subject to the terms of the Issuer's 2021 Equity Incentive Plan (the "Plan"), the Reporting Person was granted up to 2,250,000 RSUs under the Plan, vesting as follows: (a) 250,000, on the first annual anniversary of the Effective Date; (b) 750,000, in equal increments on the last day of every month thereafter over the following 36 months, subject to the Reporting Person's continued employment with the Issuer on each vesting date; and (c) 1,250,000, pursuant to certain milestones set forth by the Issuer. The Option to Purchase Common Stock vest as follows: (a) 625,000, on the first annual anniversary of the Effective Date; (b) 1,875,000, in equal installments on the last day of every month thereafter over the following 36 months subject to the Reporting Person's continued employment with the Issuer on each vesting date; and (c) 2,750,000, pursuant to certain milestones set forth by the Issuer. /s/ Chris M. Gannon 2024-05-01