Company: INV
Filing Date: 2025-11-14
Form Type: 424B3
Source: 0001628280-25-052397
Chunk: 45

Company: Innventure, Inc.
Filing Date: 2025-11-14
Form: 424B3
Chunk 45
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. Using the Black-Scholes option pricing model, the estimated grant date fair value of stock options was $4.97 per option based on an expected volatility of 56%, an expected option term of approximately 5.9 years, and risk-free rate of return of 4.06%. The stock options have a maximum contractual life of 10 years from the grant date.

During the three and nine months ended September 30, 2025 (Successor), the Company recognized compensation costs related to the stock options of $1,192 and $3,733, respectively, in the condensed consolidated statements of operations and comprehensive income (loss). As of September 30, 2025, the Company had $2,633 in compensation expense remaining to be recognized over approximately 1.7 years.

Stock Appreciation Rights

In 2024, the Company issued 30,000 cash-settled stock appreciation rights (“SARs”) which were recognized at their fair value as of the date of the grant. These SARs entitle participants to cash equal to the value of the appreciation in Accelsius’ stock price over the base price established of $12.175. These cash-settled SARs are liability classified and are revalued at each reporting period. The SARs were valued as of September 30, 2025 using the Black-Scholes option-pricing model based on an expected volatility of 70%, an expected term of approximately 1.3 years, and risk-free rate of return of 4%. The Company recognized a decrease in compensation expense in the amount of $237 and $931 in relation to the change in fair value of the cash-settled SARs for the three and nine months ended September 30, 2025 (Successor), respectively.

On June 25, 2025, the SARs agreements were amended. Under these amendments, any payments by the Company to the participants shall be made in the form of shares of Common Stock and the maximum number of shares of Common Stock that may be issued pursuant to the SAR Agreements shall be 4,000,000.

#### Subsidiary Equity Plan
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#### Innventure, Inc. and Subsidiaries

### Notes to Condensed Consolidated Financial Statements
<div align='center'>(Unaudited) (in thousands, except share or per share data)</div>

During the three and nine months ended September 30, 2025 (Successor