Company: VGASW
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001628280-25-015480
Chunk: 144

Company: Verde Clean Fuels, Inc.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 8
Chunk 144
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Table of Contents

The table below presents activity related to stock options during the year ended December 31, 2024:Number ofoptionsWeightedaverageexerciseprice pershare Weightedaverageremainingcontractuallife (years)Outstanding as of December 31, 20231,236,016$11.00 6.3Granted2,151,622$5.99 7.0Exercised-- -Forfeited / expired-- -Outstanding as of December 31, 20243,387,638$7.82 5.7Vested as of December 31, 2024309,002$11.00 -Unvested as of December 31, 20243,078,636$7.50 5.7Exercisable as of December 31, 2024-- -Stock options granted during the year ended December 31, 2024 consisted of 1,711,060 options granted to certain employees and officers and 440,562 options granted to non-employee directors.The grant-date fair value of stock options granted in 2024 was $1.38 per share for options granted to employees and officers and $1.48 per share for options granted to non-employee directors. As of December 31, 2024, there were 2,947,076 options granted to employees and officers outstanding, of which 2,638,074 were unvested, and 440,562 options granted to non-employee directors outstanding, all of which were unvested.Stock-based compensation expense related to stock options was $1,155,879 and $334,832 for the years ended December 31, 2024 and 2023, respectively. As of December 31, 2024, unrecognized compensation expense related to unvested stock options was $3,372,562. The remaining compensation cost is expected to be recognized over a weighted-average period of 1.8 years. The weighted average remaining contractual term for all options outstanding as of December 31, 2024 was 5.7 years. There was no cash received for the exercise of stock options for the years ended December 31, 2024 and 2023.Restricted Stock UnitsIn 2023, the Company granted 141,656 non-employee time-based RSU awards. RSUs represent an unsecured right to receive one share of the Company’s common stock equal to the per share value