Company: QTIWW
Filing Date: 2025-01-16
Form Type: S-1
Source: 0001628280-25-001723
Chunk: 338

Company: QT IMAGING HOLDINGS, INC.
Filing Date: 2025-01-16
Form: S-1
Chunk 338
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 conditions, as determined by the Administrator. Incentive stock options may only be granted to employees of the Company or any subsidiary that is a “subsidiary corporation” within the meaning of Section 424(f) of the Internal Revenue Code. The exercise price of any stock option award cannot be less than fair market value of the Company’s common stock, provided, however, that an incentive stock option granted to an employee who owns more than 10% of the total combined voting power of all classes of stock of the Company or any parent or subsidiary, must have an exercise price of no less than 110% of the fair market value of the Company’s common stock and a term that does not exceed five years. Vesting is subject to the option holder’s continued service to the Company, ranging up to a four-year period. Unvested options are subject to forfeiture upon termination of employment. Subsequent to December 31, 2023, the Plan was terminated in accordance with the terms of the Business Combination Agreement and the options to purchase 3,646,921shares of common stock were cancelled at the close of the Business Combination in accordance with the terms of the Business Combination Agreement. See Note 14. Subsequent Events.

The following table represents the total number of shares available for grant under the Plan:

|                                 |     | Available for Grant |     |           |
| Balance as of December 31, 2021 |     |                     |     | 3,578,276 |
| Granted                         |     |                     |     |  -541,208 |
| Cancelled                       |     |                     |     |    22,396 |
| Balance as of December 31, 2022 |     |                     |     | 3,059,464 |
| Cancelled                       |     |                     |     |   293,615 |
| Balance as of December 31, 2023 |     |                     |     | 3,353,079 |

The following table summarizes information regarding activity in the Plan during the years ended December 31, 2023 and 2022:

|                                                                |     | Number of Options |     |           |     | Weighted-Average Exercise Price |      |     | Weighted- Average Remaining Contractual Life (years) |     |     |
|:---------------------------------------------------------------|:----|:------------------|:----|----------:|:----|:--------------------------------|-----:|:----|:-----------------------------------------------------|:----|----:|
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