Company: VLDXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0000950170-25-047760
Chunk: 270

Company: Velo3D, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 270
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 be recognized over a weighted average period of approximately 3.0 years.Earnout Shares - EmployeesThe Earnout Shares issuable to holders of employee stock options are accounted as stock-based compensation expense as they are subject to forfeiture based on the satisfaction of certain employment conditions. The estimated fair values of the Earnout Shares associated with vested stock options are recognized as an expense and determined by the Monte Carlo simulation valuation model using a distribution of potential outcomes on a monthly basis over the five-year earnout period. The portion of the Earnout Shares associated with unvested stock options are recognized as an expense and considers the vesting continuing employment requirements.

 121

Velo3D, Inc.Notes to Consolidated Financial Statements 

Stock-based Compensation ExpenseThe following sets forth the total stock-based compensation expense by type of award included in operating expenses on the statements of operations: 

        December 31,

        2024

        2023

        (In thousands)

        Restricted stock units
         
        $
        9,637

        $
        16,575

        Stock options

        121

        515

        Earnout shares - employees

        3,958

        5,783

        $
        13,716

        $
        22,873

       The following sets forth the total stock-based compensation expense for the stock options, RSUs, and earnout shares - employees included in operating expenses on the statements of operations: 

        December 31,

        2024

        2023

        (In thousands)

        Research and development
         
        $
        4,256

        $
        11,415

        Selling and marketing

        2,708

        5,689

        General and administrative

        6,752

        5,769

        $
        13,716

        $
        22,873

       The following sets forth the total stock-based compensation expense by type of award included in cost of revenue in the statements of operations: 

        December 31,

        2024

        2023

        (In thousands)

        Restricted stock units
         
        $
        1,644

        $
        1,995

        Stock options

        4

        63

        $
        1,648

        $
        2,058

       The following sets forth the total stock-based compensation expense for the stock