Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 550

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1C
Chunk 550
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or, with respect to the first fiscal year of the Post-Combination Company during which
a non-employee director first serves as a non-employee director, $1,000,000).

The
Company recorded share-based compensation expense in the following expense categories of its accompanying consolidated statements of
operations:

    Year
    Ended December 31, 

    2024  
    2023 
  
    General
    and administrative 
    $1,303,546  
    $52,000 
  
    Research
    and development 
     20,390  
     — 
  
    Total
    share-based compensation 
    $1,323,936  
    $52,000 

Total
share-based compensation includes expense for awards granted to non-employee equity method investees that are fully reimbursed by the
AirJoule JV per the statement of work as described further in Note 9 – Related Party Transactions. As of the year ended
December 31, 2024, $0.1 million is to be reimbursed by the AirJoule JV and is recorded as a due from related party receivable on the
consolidated balance sheets and within contra-expense accounts on the consolidated statements of operations.

Stock
Options

The
following table summarizes option activity for the year ended December 31, 2024:

     Options   Weighted Average Exercise Price   Weighted Average Remaining Life (Years)   Balance at January 1, 2024   1,335,078   $0.23    5.83   Granted   1,371,415    10.23        Exercised   (160,991)   0.48        Forfeited   (7,900)   10.23        Balance at December 31, 2024   2,537,602   $5.60    7.85   Vested and expected to vest   2,537,602   $5.60    7.85   Exercisable at the end of the period   1,174,087   $0.19    5.90  

Options granted during the year ended December 31, 2024 had weighted-average
grant-date fair values of $2.82. As of