Company: AIRJW
Filing Date: 2025-03-27
Form Type: S-1
Source: 0001013762-25-002897
Chunk: 199

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-27
Form: S-1
Chunk 199
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ive Award Plan On March 8, 2024, the holders of XPDB common stock considered and approved the Montana Technologies Corporation’s 2024 Incentive Award Plan (the “Incentive Plan”) and Montana Technologies Corporation’s 2024 Employee Stock Purchase Plan (the “ESPP” and together with the Incentive Plan, the “Incentive Plans”), which became F-27

AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Note 11 — SHARE-BASED COMPENSATION (cont.)

effective immediately upon the Closing on March 14, 2024. Under the Incentive Plans, the Company may grant equity and equity-based awards to certain employees, consultants and non-employee directors award, such as, (a) Incentive Stock Options (granted to employees only), (b) Non-Qualified Stock Options (“NSOs”), (c) Stock Appreciation Right, (d) Restricted Stock Units (e) Restricted Stock (“RSUs”), (f) dividend equivalents and (g) other stock and cash-based awards of the Company (“Incentive Award”). The sum of any cash compensation, or other compensation, and the value (determined as of the grant date in accordance with ASC 718, or any successor thereto) of awards granted to a non-employee director as compensation for services as a non-employee director during any fiscal year of the Company may not exceed $ (or, with respect to the first fiscal year of the Post-Combination Company during which a non-employee director first serves as a non-employee director, $).

The Company recorded share-based compensation expense in the following expense categories of its accompanying consolidated statements of operations:

|                                |     | Year Ended   
 December 31, |      2024 |     |   |   2023 |
|:-------------------------------|:----|:-------------|----------:|:----|:--|-------:|
| General and administrative     |     | $            | 1,303,546 |     | $ | 52,000 |
| Research and development       |     |              |    20,390 |     |   |      — |
| Total share-based compensation |     | $            | 1,323,936 |     | $ | 52,000 |

Total share-based compensation includes expense for awards granted to non-employee equity method investees that are fully reimbursed by the AirJoule