Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 229

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 229
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including vesting and exercisability terms) as were applicable to the
corresponding former Private Veea option immediately prior to the consummation of the Business Combination. Unvested Private Veea options
did not accelerate nor vest on the consummation of the Business Combination. All stock option activity was retroactively restated to reflect
the effect of the Exchange Ratio. Generally, stock options vest 25% on the first anniversary of the vesting commencement date and then
quarterly thereafter for 12 quarters, or pursuant to another vesting schedule as approved by the Board and set forth in the option agreement.
Stock options have a maximum term of ten years from the date of grant. The aggregate intrinsic value is the fair market value on the reporting
date less the exercise price for each option. The fair value of each stock option award is estimated on the date of the grant using the
Black-Scholes option-pricing model. For options granted during the three months ended March 31, 2025 and 2024, respectively, the weighted
average estimated fair value using the Black-Scholes option pricing model was $1.16 and $0.55 per option, respectively.

Stock Options

Stock option activity under
the Plan was as follows:

|                                  |     | Number of 
 Options   |           |   |     | Weighted-      
 Average        
 Exercise Price 
 per Share      |      |     | Weighted-   
 Average     
 Remaining   
 Contractual 
 Term        
 (years)     |      |
|:---------------------------------|:----|:----------|----------:|:--|:----|:---------------|-----:|:----|:------------|-----:|
| Outstanding at December 31, 2024 |     |           | 3,790,702 |   |     | $              | 1.04 |     |             | 5.98 |
| Granted                          |     |           |    30,000 |   |     |                | 1.82 |     |             |    - |
| Exercised                        |     |           |   (24,420 | ) |     |                |    - |     |             |    - |
| Forfeited                        |     |           |   (12,245 | ) |     |                | 2.78 |     |             |    - |
| Outstanding at March 31, 2025    |     |           | 3,784,037 |