Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 196

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 196
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10% of their personal collective holdings to
a number of the Company’s existing shareholders for an aggregate purchase price of approximately $3.0million. The Company determined
that the sale contains a compensatory element, and therefore an incremental compensation expense was recognized in the amount of $1,572as share-based compensation.

In May 2024, the Company approved
and granted options to its employees and subcontractors to purchase146,304ordinary shares at an exercise price of0.23NIS per share
and395,735ordinary shares at an exercise price of $9.44-$10.88per share. The options vest over afour-year period,25% of which vest
on the first anniversary of the date of the grant, and the remaining amount vest over the following threeyearsin equal parts at the
end of each subsequent fiscal quarter, subject to continued employment or service with the Company at the time of vesting. The options
expire10years from the date of grant. The estimated fair value of the options granted in May 2024 was $6.8million.

As of December 31, 2024,38,442shares remain available for grant under
the Plan. The Company’s option awards generally vest over a four-year period, with25% of the options vesting on the first year
anniversary of grant and the remaining options vesting over the remaining period every quarter, and have a maximum term of10years.

Options granted to employees and
non-employees:

In the years ended December 31, 2024,
and 2023, the Company granted options as follows:

                      Year ended December 31, 2024                                                  
                                             Award                                                  
                                            amount                                                  
  Employees                                 65,957      0.23 NIS             4 years      10 years  
 ────────────────────────────────────────────────────────────────────────────────────────────────────
  Employees                                378,901      $ 9.44 -$ 10.88      4 years      10 years  
  Directors                                 75,957      0.23 NIS             4 years      10 years  
  Subcontractors                             4,390      0.23 NIS             4 years      10 years  
  Subcontractors                            16,834      $ 9.67 -$ 10.48      4 years      10 years  
  Total granted                            542,039                                                  

                                    Year ended December 31,