Company: VLDXW
Filing Date: 2025-08-06
Form Type: 10-Q
Source: 0001641172-25-022448
Chunk: 46

Company: Velo3D, Inc.
Filing Date: 2025-08-06
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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2025 
     889  
    $16.51  
    $6,400 

The
aggregate intrinsic value of outstanding RSUs is calculated based on the closing price of the Company’s common stock as of the
date outstanding. As of June 30, 2025, there was $13.9 million of unrecognized compensation cost, which is expected to be recognized
over a weighted average period of approximately 3.1 years. As of June 30, 2024, there was
$24.6 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of approximately 2.7
years.

Earnout
Shares––Employees

The
Earnout Shares issuable to holders of employee stock options are accounted as stock-based compensation expense as they are subject to
forfeiture based on the satisfaction of certain employment conditions. The estimated fair values of the Earnout Shares associated with
vested stock options are recognized as an expense and determined by the Monte Carlo simulation valuation model using a distribution of
potential outcomes on a monthly basis over the five-year earnout period. The portion of the Earnout Shares associated with unvested stock
options are recognized as an expense and considers the vesting continuing employment requirements.

Stock-based
Compensation Expense

The
following sets forth the total stock-based compensation expense by type of award included in operating expenses on the statements of
operations:

Schedule of Stock-Based Compensation Expense 

    2025  
    2024  
    2025  
    2024 

    Three Months Ended June 30,  
    Six Months Ended June 30, 

    2025  
    2024  
    2025  
    2024 

    (In thousands)  
    (In thousands) 
  
    Restricted stock units 
    $1,834  
    $3,101  
    $5,425  
    $6,930 
  
    Stock options 
     1  
     39  
     5  
     99 
  
    Earnout shares–employees 
     574  
     1,107  
     1,053  
     2,305 
  
    Stock based compensation
    expense 
    $2,409  
    $4,247  
    $6,483  
    $9,334 

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