Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 1957

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 9A
Chunk 1957
---
ed-
    Average  Grant Date Fair Value per Unit 

    Outstanding at September 12, 2024 
     -  
    $- 
  
    RSUs granted 
     405,580  
     3.08 
  
    Vested 
     (405,580) 
     3.08 
  
    Outstanding at December 31, 2024 
     -  
     - 

The
Company recorded stock-based compensation expense of $1,250,000 related to the RSUs granted during the year ended December 31, 2024.
There were no RSUs granted during the year ended December 31, 2023. The grant date fair value of the RSUs granted in 2024 was calculated
based on the average closing price of the Company’s common stock for the ten-day period prior to the grant date.   

11
- WARRANTS 

As
part of Plum’s initial public offering (“IPO”),  Plum issued warrants to third-party investors where each whole
warrant entitles the holder to purchase one share of the Company’s common stock at an exercise price of $11.50 per share (the “Public
Warrants”). Simultaneously with the closing of the IPO, Plum completed the private sale of warrants (the “Private Placement
Warrants” and together with the Public Warrants, the “Warrants”) where each Private Placement Warrant allows the holder
to purchase one share of the Company’s common stock at $11.50 per share. At December 31, 2024, there are 6,384,326 Public Warrants
and 5,256,218 to Private Placement Warrants outstanding.

The Public Warrants become exercisable at $11.50 per share, subject
to adjustment, at any time commencing 30 days after the completion of the Business Combination; provided that the Company has an effective
registration statement under the Securities Act covering the shares of the Company’s common stock issuable upon exercise of the
Public Warrants and a current prospectus relating to them is available (or the Company permits holders to exercise their warrants on a
cashless basis under the circumstances specified in the warrant agreement) and such shares are registered, qualified or exempt from registration
under the securities, or blue sky, laws of the state of residence of the holder. The warrants will expire five years after the completion
of the Business Combination or earlier upon redemption or liquid