Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 176

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 176
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 an exercise price equal to the estimated fair value of the Company’s common stock, as determined by the Company’s
Board of Directors (the “Board”) on the date of grant. Options generally have contractual terms of ten years. Incentive stock
options (ISO) may only be granted to employees, whereas all other stock awards may be granted to employees, directors, consultants and
other key stakeholders. As of September 30, 2025, there are no shares available for future grants under the 2017 Plan.

In February 2018, Legacy Inpixon adopted the 2018
Plan, which is utilized for employees, corporate officers, directors, consultants and other key persons employed. The 2018 Plan provides
for the granting of incentive stock options, NQSOs, stock grants and other stock-based awards, including Restricted Stock and Restricted
Stock Units (as defined in the 2018 Plan). In August 2025, the Board approved the amendment and restatement of the 2018 Plan which, among
other things, provides that the Board may authorize one or more of the Company’s officers to grant awards pursuant to the 2018 Plan,
provided that the Board must specify the total number of shares of common stock that may be subject to the awards granted by such officer.

As of September 30, 2025, there are no unvested
Restricted Stock or Restricted Stock Units outstanding under the 2018 Plan.

Incentive stock options granted under the 2018
Plan are granted at exercise prices at a minimum of 100% of the estimated fair market value of the underlying common stock at date of
grant. For any individual possessing more than 10% of the total outstanding common stock of the Company, the exercise price per share
for incentive stock options is a minimum 110% of the estimated fair value of the underlying common stock on the grant date. Options granted
under the 2018 Plan vest over periods ranging from immediately to four years and are exercisable over periods up to ten years from the
grant date.

The aggregate number of shares that may be awarded
under the 2018 Plan as of September 30, 2025 was 77,105,687. As of September 30, 2025, 10,714,289 stock options were granted to
employees, directors and consultants of the Company and 62,240,174 options were available for future grant under the 2018 Plan.

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XTI A