Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 445

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 445
---
: 

    David Brody 
    $60,000  
    $—  
    $77,653  
    $—  
    $—  
    $—  
    $137,653 
  
    Tensie Axton 
    $51,667  
    $—  
    $75,227  
    $—  
    $—  
    $—  
    $126,894 
  
    Kareem Irfan 
    $100,750  
    $—  
    $75,227  
    $—  
    $—  
    $—  
    $175,977 
  
    Former
    Directors: 

    $— 
  
    Leonard Oppenheim (2) 
    $13,375  
    $—  
    $—  
    $—  
    $—  
    $—  
    $13,375 
  
    Tanveer Khader (3) 
    $9,354  
    $—  
    $—  
    $—  
    $—  
    $—  
    $9,354 

    (1)
    The
    fair value of the director option grants are estimated on the date of grant using the Black-Scholes option pricing model with key
    weighted average assumptions, expected stock volatility and risk free interest rates based on US Treasury rates from the applicable
    periods.

    (2)
    Leonard
    Oppenheim resigned from the Board, effective as of March 31, 2024.

    (3)
    Tanveer
    Khader resigned from the Board, effective as of the effective time of the XTI Merger on March 12, 2024.

71

Directors
                                            are entitled to reimbursement of ordinary and reasonable expenses incurred in exercising
                                            their responsibilities and duties as a director.

Effective
July 1, 2015, the Board approved the following compensation plan for the independent directors payable in accordance with each independent
director’s services agreement: $30,000 per year for their services rendered on the Board, $15,000 per year for service as the Audit
Committee chair, $10,000 per year for service as the Compensation Committee chair, $6,000 per year for service on the Audit Committee,
$4,000 per year for service on the Compensation Committee, $2,500