Company: VGASW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015480
Chunk: 148

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 148
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 2024 and 2023.For the Year EndedDecember 31,20242023Net loss attributable to Verde Clean Fuels, Inc.(3,334,356)(2,743,588)Basic weighted-average shares outstanding6,286,0336,140,529Dilutive effect of share-based awards--Diluted weighted-average shares outstanding6,286,0336,140,529Basic loss per share$(0.53)$(0.45)Diluted loss per share$(0.53)$(0.45)The Company’s Warrants, earn out shares and stock options could have the most significant impact on diluted shares should the instruments represent dilutive instruments. However, securities that could potentially be dilutive are excluded from the computation of diluted earnings per share when a loss from continuing operations exists or when the exercise price exceeds the average closing price of the Company’s shares of Class A common stock during the period, because their inclusion would result in an anti-dilutive effect on per share amounts.The following amounts were not included in the calculation of net loss per diluted share for the periods presented because their effects were anti-dilutive:As of December 31,20242023Warrants15,383,26315,383,263Earn out shares (1)3,234,3753,234,375Convertible debt-40,961Stock options3,387,6381,236,016RSUs (2)-141,656Total anti-dilutive instruments22,005,27620,036,271(1)Excludes 3,500,000 Class C common stock earn out shares convertible into shares of Class A common stock. Shares of Class C common stock are not participating securities; thus, the application of the two-class method is not required.

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Table of Contents

(2)Excludes 20,832 of vested and deferred RSUs outstanding as of December 31, 2024. Such shares are included within weighted-average shares outstanding for the computation of basic and diluted loss per share. See Note 9 for further information.Noncontrolling InterestsFollowing the Business Combination, holders of Class A common stock own direct controlling interest in the results of the combined entity, while Holdings own an economic interest in the Company, shown as noncontrolling interests (“NCI”) in stockholders’ equity in the Company’s consolidated financial statements. The indirect economic interests are held by Holdings in the form of Class C OpCo Units.Following the completion of the