Company: DGLY
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001641172-25-011765
Chunk: 42

Company: DIGITAL ALLY, INC.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 each option
award is estimated on the date of grant using a Black-Scholes option valuation model

The Plans allow for the cashless
exercise of stock options. This provision allows the option holder to surrender/cancel options with an intrinsic value equivalent to the
purchase/exercise price of other options exercised. There were no shares surrendered pursuant to cashless exercises during the three months
ended March 31, 2025 and 2024.

At March 31, 2025 and December
31, 2024, the aggregate intrinsic value of options outstanding was approximately $-0- and $-0-, respectively, and the aggregate intrinsic
value of options exercisable was approximately $-0- and $-0-, respectively.

The following table summarizes
the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable options under the Company’s
option plans as of March 31, 2025:

 SCHEDULE OF SHARES AUTHORIZED UNDER STOCK OPTION PLANS BY EXERCISE PRICE RANGE

    Outstanding options 
    Exercisable options
  
    Exercise price range  
    Number of options  
    Weighted average remaining contractual life 
    Number of  options  
    Weighted average remaining contractual life

    $0.01 to $999.99  
     1,850  
    5.4 years 
     1,850  
    5.4 years
  
    $1,000.00 to $1,399.99  
     700  
    3.5 years 
     700  
    3.5 years
  
    $1,400.00 to $1,799.99  
     75  
    1.1 years 
     75  
    1.1 years

     Total  
     2,625  
    4.7 years 
     2,625  
    4.7 years

Restricted stock grants.
The Board of Directors has granted restricted stock awards under the Plans. Restricted stock awards are valued on the date of grant and
have no purchase price for the recipient. Restricted stock awards typically vest over one to four years corresponding to anniversaries
of the grant date. Under the Plans, unvested shares of restricted stock awards may be forfeited upon the termination of service to or
employment with the Company, depending upon the circumstances of termination. Except for restrictions placed on the transferability of
restricted stock