Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 1170

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 7
Chunk 1170
---
 date. The Company considered the requirement in ASC 718-10-35-8 when recognizing current period expense. 

The
fair value of the NSOs were determined using the Black-Scholes option-pricing model and were based on the following weighted average
assumptions: 

     Grant Date   Incentive Plan  June 6,  2024   September 9,  2024   Expected term - years   6.1    10.0   Expected volatility   29.5%   28.5%  Risk-free interest rate   4.2%   3.7%  Expected dividends   —    —  

F-25

Restricted
Stock Units

The
following table summarizes RSU activity for the year ended December 31, 2024:

    Awards  
    Weighted Average Grant Date Fair Value 
  
    Balance at January 1, 2024 
     —  
    $— 
  
    Granted 
     523,300  
     8.15 
  
    Vested 
     —  
     — 
  
    Forfeited 
     (3,000) 
     10.23 
  
    Balance at December 31, 2024 
     520,300  
    $8.13 

As
of December 31, 2024, the unrecognized compensation cost for RSUs issued was $3.5 million and will be recognized over an estimated weighted-average
amortization period of 3.32 years. The fair values of RSUs is based on the fair value of the Company’s common stock on the date of the
grant.

The
following tables provide additional detail about the RSUs granted during the year ended December 31, 2024:

    Employees

    Grant Date
     
    Awards (1) (#)

    Grant Date Fair Value ($)

    June 6, 2024

    247,500
    (3)

    10.23

    September 9, 2024 (2)

    70,000

    5.11

  (1) These awards vest as to 25% of the total awards granted on each of the first four anniversaries of the applicable vesting commencement date, subject to the applicable employee’s continued service through the applicable vesting date.