Company: FLDDW
Filing Date: 2025-01-24
Form Type: 424B3
Source: 0001213900-25-006075
Chunk: 491

Company: Fold Holdings, Inc.
Filing Date: 2025-01-24
Form: 424B3
Chunk 491
---
 31, 2023, as all unvested shares were purchased by the Participants at fair value at the time of issuance. There were not any additional RSAs granted during the nine months ended September 30, 2024. Share -basedcompensation expense for RSAs is included in compensation and benefits in the accompanying statements of operations. Determination of fair value The initial value of the awards on the dates that the RSUs and RSAs were granted was determined based on the underlying value of the Company’s common stock. As a private company, the common stock was valued by performing an enterprise valuation using a guideline public company market approach method. This method leverages an analysis of publicly traded peers to develop relevant market multiples and ratios applied to the Company’s historical and expected cash flows. RSU and RSA activity The following table summarizes RSU and RSA share activity under the Equity Plan for the nine months ended September 30, 2024 and 2023:

|                                        |     |      RSUs |   |     |     RSAs |   |
| Shares nonvested at January 1, 2023    |     | 1,583,089 |   |     |  700,825 |   |
| Granted                                |     |   242,010 |   |     |        — |   |
| Vested                                 |     |         — |   |     | (550,367 | ) |
| Forfeited                              |     |  (284,123 | ) |     |        — |   |
| Shares nonvested at December 31, 2023  |     | 1,540,976 |   |     |  150,458 |   |
| Granted                                |     | 1,006,582 |   |     |        — |   |
| Vested                                 |     |         — |   |     | (100,275 | ) |
| Forfeited                              |     |    (3,750 | ) |     |        — |   |
| Shares nonvested at September 30, 2024 |     | 2,543,808 |   |     |   50,183 |   |

Note that while certain RSUs have met the service condition, no RSUs have met the performance condition, and are therefore not included in common shares issued and outstanding as of September 30, 2024 and 2023. 10. COMMITMENTS AND CONTINGENCIES 401(k) Plan