Company: PED
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001654954-25-013092
Chunk: 13

Company: PEDEVCO CORP
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 13
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 140,000 shares vesting on January 1, 2026, July 12, 2026 and September 27, 2026, respectively, contingent upon each recipient’s continued service with the Company. These shares have a total fair value of $313,000, based on the market price on the grant date. Stock-based compensation expense recorded relating to the vesting of restricted stock for the three and nine months ended September 30, 2025 and 2024, was $482,000 and $396,000 and $1,320,000 and $1,191,000, respectively. The remaining unamortized stock-based compensation expense at September 30, 2025 related to restricted stock was $1,460,400. Options On January 23, 2025, the Company granted options to purchase an aggregate of 464,000 shares of common stock to various Company employees at an exercise price of $0.85 per share under the Company’s 2021 Plan. The options have a term of five years and fully vest in November 2027, with 33.3% vesting on the 10-month anniversary of the vesting commencement date, 33.3% vesting on the 22-month anniversary date of the vesting commencement and 33.4% vesting on the 34-month anniversary date of the vesting, contingent upon the recipient’s continued service with the Company. The aggregate fair value of the options on the date of grant, using the Black-Scholes model, was $195,000. Variables used in the Black-Scholes option-pricing model for the options issued include: (1) a discount rate of 4.45% based on the applicable US Treasury bill rate, (2) expected term of 3.5 years, (3) expected volatility of 64.5% based on the trading history of the Company, and (4) zero expected dividends. During the three and nine months ended September 30, 2025 and 2024, the Company recognized stock option expense of $55,000 and $68,000 and $166,000 and $210,000, respectively. The remaining amount of unamortized stock options expense at September 30, 2025 was $155,000. The intrinsic value of outstanding and exercisable options at September 30, 2025 was $-0-. 

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Option activity