Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 32

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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,806,983    3.66    8.46  

16

The fair value of each stock option
granted is estimated using the Black-Scholes option-pricing model using the single-option award approach. The assumptions used to calculate
the fair value of the options granted during the six months ended June 30, 2025, were as follows:

     June 30, 2025   Stock Price  $1.64   Expected term (years)   5.0   Volatility   75%  Risk-Free Rate   3.86% 

Stock compensation expense related
to the common stock options outstanding for the six months ended June 30, 2025 and 2024, was $158,257 and $334,774, respectively, which
is included in general and administrative expenses in the Company’s condensed consolidated statements of operations and comprehensive
income (loss). Total unrecognized expense related to unvested options outstanding as of June 30, 2025, was $179,076 which will be recognized
over a weighted average period of 2.43 years.

Restricted Stock Units

RSU activity under the Plan was as
follows:

    Number of RSUs  
    Weighted- Average  Grant Date  Fair Value 
  
    Unvested at December 31, 2024 
     -  
    $- 
  
    Granted 
     695,034  
     1.60 
  
    Vested 
     (60,852) 
     1.60 
  
    Forfeited 
     (3,581) 
     1.60 
  
    Unvested at June 30, 2025 
     630,603  
    $   1.60 

Stock compensation expense related
to the RSUs for the six months ended June 30, 2025 was $281,655 which is included in general and administrative expenses in the Company’s
condensed consolidated statements of operations and comprehensive income (loss). There were no RSUs granted during the six months ended
June 30, 2024. Total unrecognized expense related to unvested RSUs as of June 30, 2025, was $824,670 which will be recognized over a weighted
average period of 0.8 years.

12 - WARRANTS

As part of Plum’s initial public