Company: NEOV
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001683168-25-007304
Chunk: 112

Company: NeoVolta Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1
Chunk 112
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2,101,488
as follows: (i) $1,011,405
for the amortized value of the RSUs granted to our three officers and two other individuals; (ii) $175,500
for the amortized value of the portion of the new compensation plan for our independent directors that is attributable to stock;
(iii) $515,498
for the fair value of the issuance of 174,650 shares of our common stock  to two consultants for their advisory services in
the area of energy regulatory and marketing matters; (iv) $234,085
for the grant date value of 78,565
shares of common stock to be issued to a distributor as a sales incentive pursuant to a February 2025 distribution agreement; and
(v) $165,000
for the amortized value of the shares potentially issuable to a marketing company pursuant to a February 2025 referral agreement.
There was a total of 289,870
shares of our common stock that were issued to various grantees for services in the year ended June 30, 2025, of which 125,620
shares were previously expensed in the year ended June 30, 2024.

In the year ended June 30,
2024, we recognized total non-cash stock compensation expense of $432,367 as follows: (i) $214,992 for the amortized value of the RSUs
granted to our three executive officers and a non-executive recipient, as previously described; (ii) $175,500 for the amortized value
of the portion of the new compensation plan for our independent directors that is attributable to stock; (iii) $29,450 for the net amortized
value of the shares granted to various advisors under their annual service contracts; and (iv) $12,425 for the fair value of incentive
shares earned by a wholesale dealer as of December 31, 2023 (see Note 5). There was a total of 80,964 shares of common stock that were
issued to our independent directors in the year ended June 30, 2024, which were previously expensed in the year ended June 30, 2023.

Other Matters –
In February 2019, the Company’s Board of Directors approved the establishment of a new 2019 Stock Option Plan with an authorization
for the issuance of up to 2,500,000 shares of common stock. In December 2024