Company: ABTC
Filing Date: 2025-07-29
Form Type: S-4/A
Source: 0001213900-25-068715
Chunk: 474

Company: American Bitcoin Corp.
Filing Date: 2025-07-29
Form: S-4/A
Chunk 474
---
 Condensed Consolidated Financial Statements
For the Three Months Ended March 31, 2025 NOTE 9 — STOCKHOLDERS’ DEFICIT (cont.) As of March 31, 2025, there was approximately $ 2,736,000unrecognized compensation expense related to the service -basedRSUs, which is expected to be recognized over a remaining weighted -averagevesting period of approximately 3 years. On January 8, 2025, in connection with the Captus Agreement, as a material inducement to their agreeing to become employees of the Company, the Company granted a restricted stock award to each of Harry Andersen, Paul Connolly, Mark Taylor and Steve Giacomin (collectively, the “Restricted Stock Awards”). The Restricted Stock Awards were intended to constitute “employment inducement awards” under the Nasdaq Stock Market Rules. The aggregate restricted stock shares issued was 4,083,300. Each of the Restricted Stock Awards vests in three equal installments on the first three anniversaries of the grant date subject to the grantee’s continued engagement with the Company through each applicable vesting date, provided however, that the Restricted Stock Awards will accelerate and vest immediately upon the grantee’s death, disability, termination by the Company without “cause” (as defined in each Restricted Stock Award agreement), or the consummation of a change in control of the Company. The equity awards were valued as of the grant date at $ 0.452per share for a total of $ 1,846,000. The grant date fair value was estimated to be fair value of the Company’s common stock on the Grant Date. The equity compensation expense for the three months ended March 31, 2025 amounted to approximately $ 248,000. On December 17, 2024 (“Grant Date”), the Company’s Senior Vice President of Energy (“VP Energy”) was granted a time time -basedequity grant of 500,000shares of the Company’s common stock pursuant to an equity incentive plan. The Equity Grant shall vest over a four (4) -yearperiod beginning on the Grant Date, subject to VP Energy’s continued employment with the Company through the relevant vesting date, in accordance with the following schedule. The equity award was valued as of the grant date at $ 0.477per share for a total of$ 239,000. The grant date fair value was estimated to be fair value of the Company’s common stock on the Grant Date. The