Company: VEEAW
Filing Date: 2025-08-06
Form Type: S-1/A
Source: 0001213900-25-072342
Chunk: 259

Company: VEEA INC.
Filing Date: 2025-08-06
Form: S-1/A
Chunk 259
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 the date of the grant using the Black-Scholes option-pricing model. For options granted during the year ended December 31, 2024 and December 31, 2023, the weighted average estimated fair value using the Black-Scholes option pricing model was $ 1.49and $ 0.46per option, respectively.

Stock compensation expense related to the common stock options outstanding for the years ended December 31, 2024 and 2023, was approximately $ 5.5million and $ 0.5million, respectively, which is included in general and administrative expense, net in the Company’s consolidated statements of operations. Total unrecognized expense related to unvested options outstanding as of December 31, 2024, was approximately $ 161,000which will be recognized over a weighted average period of 1.70years.

The Company estimates the fair value of each stock option award on the grant date using the Black-Scholes option-pricing model. The assumptions used to calculate the fair value of the options granted during the years ended December 31, 2024 are as follows:

|                       |     | December 31, 
 2024         |      |   |
|:----------------------|:----|:-------------|-----:|:--|
| Stock Price           |     | $            | 3.89 |   |
| Expected term (years) |     |              |  2.0 |   |
| Volatility            |     |              | 75.0 | % |
| Risk-Free Rate        |     |              | 4.25 | % |

F-50 Veea Inc. and Subsidiaries
Notes to the Consolidated Financial Statements
For the Years ended December 31, 2024 and 2023

Restricted Stock Unit Activity

Restricted stock unit activity under the Plan was as follows for the year ended December 31, 2024:

| Outstanding at September 12, 2024 |     | Number 
 of     
 units  |        - |   |     | Weighted-  
 Average    
 Grant Date 
 Fair Value 
 per Unit   |    - |
|:----------------------------------|:----|:-------|---------:|:--|:----|:-----------|-----:|
| RSUs granted                      |     |        |  405,580 |   |     |            | 3.08 |
| Vested                            |     |        | (405,580 |