Company: GAUZ
Filing Date: 2025-03-11
Form Type: 20-F
Source: 0001213900-25-022437
Chunk: 198

Company: Gauzy Ltd.
Filing Date: 2025-03-11
Form: 20-F
Item: Item 19
Chunk 198
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 FINANCIAL STATEMENTS (continued)

(U. S. dollars in thousands, except share and per
share amounts)

NOTE 17 - SHARE-BASED COMPENSATION(continued):

                                                                       Weighted-                  Aggregate           
                                                                         average                  Intrinsic           
                                                                        exercise                  Value               
                                                                           price                  (in U. S. dollars)  
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Outstanding at December 31, 2022                      1,008,927         $0.068        8.12      $9,601              
  Granted                                                 344,182         $0.063        9.80      $-                  
  Exercised                                              ( 23,254         $0.062      ( 7.10      $224                
  Forfeited                                              ( 24,374         $0.067      ( 8.91      $-                  
  Expired                                                 ( 5,006         $0.070           -      $-                  
  Outstanding at December 31, 2023                      1,300,475         $0.066        7.75      $14,109             
  Exercisable at December 31, 2023                        818,625         $0.067        7.28      $8,881              
  Vested and expected to vest at December 31, 2023      1,300,475         $0.066        7.75      $14,109             

The Company assumes that all outstanding
options are expected to vest. The weighted average fair values at grant date of options granted for the years ended December 31, 2024
and 2023 were $13.25and $10.80per share, respectively.

Summary of status of the Company’s
nonvested employee options:

The following table summarizes the number
of options outstanding for the years ended December 31, 2024 and December 31, 2023, and related information:

  Outstanding at December 31, 2023        481,850       9.68  
  Granted                                 542,039      13.25  
  Vested                                ( 317,304       9.99  
  Forfeited                              ( 23,684      10.83  
  Outstanding at December 31, 2024        682,901      12.33  
  Outstanding at December 31,