Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 140

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 140
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-average period of 2 years. Stock-based compensation expense for the years ended December 31, 2024 and December 31, 2023, including options, PRSUs, and RSUs, totaled $2,303,054 and $4,427,073, respectively. Total related recognized tax benefit for the years ended December 31, 2024 and 2023, was $457,000 and $818,000, respectively. Table of Contents NAUTICUS ROBOTICS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS F-33

14. 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 has sole investment discretion. The Company’s cost for the 401(k) plan was $201,734 and $342,459 for the years ended December 31, 2024 and 2023, respectively. 15. Related Party Transactions ATW I, ATW II, ATW III, MIF and SLS are considered related parties as they can significantly influence the management of the Company, and we require their consent on all material transactions. Further, MIF is considered a related party as Adam Sharkawy is a member of the Board of Directors of the Company and the founder and managing partner of MIF. Transocean was considered a related party until December 18, 2023 as Mark Mey, a member of the Board of Directors of the Company, was also the Chief Financial Officer of Transocean. Mark Mey resigned as a director of the Company on December 18, 2023. SPA Warrants – As of December 31, 2024, ATW I and MIF held 336 and 106,194 SPA Warrants, respectively. As of December 31, 2023, ATW I, MIF and SLS held 615,924, 113,378 and 40,816 SPA Warrants, respectively (see Note 12 - Warrants). On January 30, 2024, SPA Warrants held by MIF and SLS were adjusted downwards by 258,621 and 93,103, respectively (on a pre Reverse Stock Split basis) in connection with the Second Lien Restructuring Agreements. During