Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 213

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 213
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 each option. The fair value of each stock option award is estimated on the date of the grant using the
Black-Scholes option-pricing model. For options granted during the three months ended March 31, 2025 and 2024, respectively, the weighted
average estimated fair value using the Black-Scholes option pricing model was $ and $ per option, respectively.

Stock Options

Stock option activity under
the Plan was as follows:

|                                  |     | Number of 
 Options   |           |   |     | Weighted-      
 Average        
 Exercise Price 
 per Share      |      |     | Weighted-   
 Average     
 Remaining   
 Contractual 
 Term        
 (years)     |      |
|:---------------------------------|:----|:----------|----------:|:--|:----|:---------------|-----:|:----|:------------|-----:|
| Outstanding at December 31, 2024 |     |           | 3,790,702 |   |     | $              | 1.04 |     |             | 5.98 |
| Granted                          |     |           |    30,000 |   |     |                | 1.82 |     |             |    - |
| Exercised                        |     |           |   (24,420 | ) |     |                |    - |     |             |    - |
| Forfeited                        |     |           |   (12,245 | ) |     |                | 2.78 |     |             |    - |
| Outstanding at March 31, 2025    |     |           | 3,784,037 |   |     | $              | 1.64 |     |             | 8.50 |
| Exercisable at March 31, 2025    |     |           | 3,744,271 |   |     |                |      |     |             |      |

F-15

The fair value of each stock option
granted is estimated using the Black-Scholes option-pricing model using the single-option award approach.

|                       |     | March 31, 
 2025      |      |   |
|:----------------------|:----|:----------|-----:|:--|
| Stock Price           |     | $         | 1.82 |   |
| Expected term (years) |     |           |  5.0 |   |
| Vol