Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 657

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 4
Chunk 657
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3

    Period from January 1, 2023, to March 14, 2023

    Research and development
     
    $
    18

    $
    -

    $
    -

    Sales and marketing

    81

    -

    -

    General and administrative

    454

    113

    158

    Total non-cash stock compensation
     
    $
    553

    $
    113

    $
    158

As of December 31, 2024, the remaining unrecognized stock compensation expense totaled approximately $574 thousand. This amount will be recognized as an expense over the weighted average remaining term of 2.55 years.

The fair value of each employee option grant is estimated on the date of the grant using the Black-Scholes option-pricing model. Key weighted-average assumptions used to apply this pricing model during the year ended December 31, 2024 (Successor) were as follows:

    Schedule of assumptions used

    2024
     
    2023
  
    Risk-free interest rate
     
    3.66% - 4.03%
     
    3.67%
  
    Expected life of option grants
     
    6 – 6.25 years
     
    5.75 years
  
    Expected volatility of underlying stock
     
    65.17% - 65.97%
     
    61.65%
  
    Dividends assumption
     
    $-
     
    $-

Restricted Stock Units

The grant date fair value for Restricted Stock Units (RSU) are valued using the closing price of the Company’s common stock on the date of grant.

On January 2024, a total of 47,000 restricted stock units of the Company’s common stock were granted to employees of the Company under the Incentive Plan at various dates.

On August 29, 2024, a total of 473,935 restricted stock units of the Company’s common stock were granted to directors of the Company under the 2023 Equity Incentive Plan.

    F-31

The fair value of the common stock as of the various grant dates was determined to be $1.25 to $2.11 per restricted stock unit, for a weighted average fair value of $2.04 per restricted stock unit. There was no other activity related to restricted stock units for the year ended December 31, 2024.