Verde Clean Fuels, Inc. 10-K

ITEM 5. Market for Registrant’s Common Equity, Related Stockholder Matters, and Issuer Purchases of Equity Securities. Market Information CENAQ’s units, public shares and public warrants were each historically traded on the NASDAQ Stock Market under the symbols “CENQU,” “CENQ” and “CENQW,” respectively. On February 15, 2023, the units automatically separated into the component securities and, as a result, no longer trade as a separate security. On February 16, 2023, the Verde Clean Fuels Class A Common Stock and Verde Clean Fuels public warrants began trading on Nasdaq under the new trading symbols of “VGAS” and “VGASW,” respectively, in lieu of the Class A common stock and warrants of CENAQ. Following the completion of the Business Combination, including the redemption of public shares as described above, the consummation of the PIPE Investment, and the separation of the former CENAQ units, the Company had 9,358,620 shares of Class A Common Stock outstanding that were held of record by 28 holders, 22,500,000 shares of Class C Common Stock outstanding that were held of record by one holder, and no shares of preferred stock outstanding. Holders On March 31, 2023, there were 28 holders of record of our Class A Common Stock, one holder of record of our Class C Common Stock and two holders of record of our warrants. We believe a substantially greater number of beneficial owners hold shares of common stock or warrants through brokers, banks or other nominees. Dividends The Company has never declared or paid any cash dividends and does not presently plan to pay cash dividends in the foreseeable future. The payment of cash dividends in the future will be dependent upon our revenues and earnings, if any, capital requirements and general financial condition. The payment of any cash dividends will be within the discretion of the Company’s board of directors at such time. In addition, the Company’s board of directors is not currently contemplating and does not anticipate declaring any stock dividends in the foreseeable future. Securities Authorized for Issuance Under Equity Compensation Plans As of December 31, 2022, CENAQ did not have any securities authorized for issuance under equity compensation plans. In connection with the Business Combination, CENAQ’s stockholders approved the Verde Clean Fuels, Inc. 2023 Omnibus Incentive Plan (the “2023 Plan”), which became effective immediately upon the closing of the Business Combination. Recent Sales of Unregistered Securities None other than as previously reported. Purchases of Equity Securities by the Issuer and Affiliated Purchasers None other than as previously reported. ITEM 6. [Reserved]. 38