Company: VEEAW
Filing Date: 2025-01-10
Form Type: S-1/A
Source: 0001213900-25-002701
Chunk: 214

Company: VEEA INC.
Filing Date: 2025-01-10
Form: S-1/A
Chunk 214
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 as of December 31, 2023                   |     |             | 7,044,249 |   |     | $        | 0.55 |     |             | 5.85 |     | $         | 8,674,871 |
| Options vested and exercisable - December 31, 2023 |     |             | 3,684,387 |   |     | $        | 0.55 |     |             | 6.31 |     | $         | 4,527,387 |
| Options vested and exercisable - December 31, 2022 |     |             | 3,338,817 |   |     | $        | 0.55 |     |             | 6.98 |     | $         |   318,041 |

The aggregate intrinsic value is the fair market
value on the reporting date less the exercise price for each option.

The fair value of each stock option award is estimated
on the date of the grant using the Black-Scholes option-pricing model. For options granted during the years ended December 31,
2023 and 2022, respectively, the weighted average estimated fair value using the Black-Scholes option pricing model was $ and $
per option, respectively.

Stock compensation expense related to the 2018 Plan
common stock options for the years ended December 31, 2023 and 2022 was $ and $, respectively, which is included
in general and administrative in the Company’s consolidated statements of operations and comprehensive loss. Total unrecognized
expense related to unvested options outstanding as of December 31, 2023 was $ which will be recognized over a weighted average
period of years.

The Company estimates the fair value of each stock
award on the grant date using the Black-Scholes option-pricing model.

|                            |     |             2023 |     |            2022 |
| Expected volatility        |     | 87.70% - 108.44% |     | 84.24% - 87.55% |
| Expected term in years     |     |      6.06 - 6.11 |     |     5.27 - 6.11 |
| Expected dividend yield    |     |            0.00% |     |           0.00% |
| Risk-free interest rate    |     |    3.39% - 4.24% |