AST SpaceMobile, Inc. Stockholders Approve Amended Incentive Award Plan

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announced that its stockholders approved the Amended and Restated AST SpaceMobile, Inc. 2024 Incentive Award Plan, which reserves an additional 10,000,000 shares of the Company's Class A Common Stock for the issuance of awards under the Plan and extends the Plan's expiration date from July 29, 2034 until October 6, 2035. The approval was based on a vote of 819,647,361 shares in favor, 36,483,937 shares against, and 438,864 abstentions, representing 80.2% of the total voting power of the Company.

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About Ast Spacemobile Inc.

Ast Spacemobile Inc. is an innovative telecommunications company focused on transforming mobile connectivity through satellite technology. The company's primary mission is to develop and deploy the first and only space-based cellular broadband network directly accessible by standard mobile phones. This groundbreaking initiative aims to eliminate connectivity gaps in remote and underserved areas worldwide, significantly enhancing global communication networks. Ast Spacemobile Inc. is crucial to sectors like remote communications, emergency services, and developing markets where traditional cellular infrastructure is challenging to implement. With its headquarters in Midland, Texas, the company is at the forefront of marrying terrestrial mobile networks with satellite solutions, marking a significant shift in how broad-area coverage can be achieved. Their endeavor represents a pivotal advancement in the telecommunications industry, likely impacting global connectivity dynamics by extending the reach of mobile network operators beyond conventional terrestrial limitations.