Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 1110

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 8
Chunk 1110
---
75 years
  
    Expected volatility of underlying stock
     
    65.17% - 65.97%
     
    61.65%
  
    Dividends assumption
     
    $-
     
    $-

Restricted Stock Units

The grant date fair value for Restricted Stock Units (RSU) are valued using the closing price of the Company’s common stock on the date of grant.

On January 2024, a total of 47,000 restricted stock units of the Company’s common stock were granted to employees of the Company under the Incentive Plan at various dates.

On August 29, 2024, a total of 473,935 restricted stock units of the Company’s common stock were granted to directors of the Company under the 2023 Equity Incentive Plan.

    F-31

The fair value of the common stock as of the various grant dates was determined to be $1.25 to $2.11 per restricted stock unit, for a weighted average fair value of $2.04 per restricted stock unit. There was no other activity related to restricted stock units for the year ended December 31, 2024.

The following summarizes our RSUs transaction activity for the year ended December 31, 2024:

    Schedule of RSUs transaction

    Shares

    Weighted Average Grant Date Fair Value

    Outstanding at January 1, 2024

    486,165

    $
    7.80

    Granted

    520,935

    $
    2.04

    Vested

    (318,165
    )
     
    $
    7.33

    Forfeited

    -

    Outstanding at December 31, 2024

    688,935

    Shares

    Weighted Average Grant Date Fair Value

    Outstanding at March 15, 2023

    -

    $

    Granted

    526,165

    $
    7.80

    Forfeited

    (40,000
    )
     
    $
    7.13

    Outstanding at December 31, 2023

    486,165

The total fair value of RSUs vested during the year ended December 31, 2024, was $2,331 thousand. There was no RSUs vested during the year ended December 31, 2023.

Non-cash stock-based compensation expenses related to restricted stock units recorded in the financial