Company: KITTW
Filing Date: 2025-04-15
Form Type: 10-Q/A
Source: 0001849820-25-000106
Chunk: 48

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-15
Form: 10-Q/A
Chunk 48
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reements, (a) the Amended SPA Warrants, and (b) the New SPA Warrants.

The SPA Warrants, which are accounted for as liabilities in our condensed consolidated balance sheets, were valued as of September 30, 2024, at $ 150,187and as of December 31, 2023 at $ 17,544,561. The fair value of the SPA Warrants was estimated using a Black-Scholes option pricing model using the following assumptions: stock price of $ 1.41, no assumed dividends, implied volatility of 197.8%, and a remaining term of 8years. The change in value of the SPA Warrants during the three and nine months ended September 30, 2024, was a gain of $ 374,796and $ 12,759,113, respectively. The change in value of the SPA Warrants during the three and nine months ended September 30, 2023, was a loss of $ 8,721,515and a gain of $ 18,097,987, respectively, and was reported with other (income) expense in our condensed consolidated statements of operations.

#### 14. Stock-Based Compensation
Our 2022 Omnibus Incentive Plan provides for the grant of options, stock appreciation rights, restricted stock units (“RSU”s), restricted stock and other stock-based awards, any of which may be performance-based, and for incentive bonuses, which may be paid in cash, Common Stock, or a combination thereof. During the three months ended September 30, 2024, 201,586RSUs were granted with a weighted-average grant-date fair value of $ 4.64. As of September 30, 2024, 333,175equity units remained outstanding.

Total stock-based compensation expense including options, PRSUs, and RSUs for the three and nine months ended September 30, 2024 and 2023, net of forfeiture adjustments, totaled $ 532,539and $ 1,872,504, and $ 917,993and $ 3,995,020, respectively.

#### 15. Employee Benefit Plan
Nauticus offers a 401(k) plan which permits eligible employees to contribute portions of their compensation to an investment trust. The Company makes contributions to the plan totaling 3% of employees’ gross salaries and such contributions vest immediately. The 401(k) plan provides several investment options, for which the employee