Company: BCHT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002237
Chunk: 103

Company: Birchtech Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 103
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 employee upon a cashless exercise of an option to purchase 25,531 shares of common stock covered by an option to purchase a total of 500,000 shares of common stock with an exercise price of $0.27 per share. Such share issuances were based upon a VWAP of $0.6546 per share as determined under the terms of the options. On August 3, 2024, the Company issued 32,112 shares of common stock to a former consultant upon a cashless exercise of an option to purchase 62,500 shares of common stock, with an exercise price of $0.40 per share. Such share issuance was based upon a VWAP of $0.8227 per share as determined under the terms of the option. A summary of stock option activity is presented below:          Weighted         Weighted    Average         Average    Remaining  Aggregate   Number of  Exercise  Contractual  Intrinsic   Shares   Price   Life (years)  Value December 31, 2023  17,037,500  $0.53   1.47   6,970,750                  Grants  1,000,000   0.88         Expirations  (5,155,719 )  0.64         Exercised  (3,581,781 )  0.35         December 31, 2024  9,300,000  $0.58   1.75   12,500                  Options exercisable at:                December 31, 2024  9,300,000   0.58   1.75   12,500  The aggregate intrinsic value in the table above represents the total intrinsic value, based on the Company’s closing stock price of $0.51 as of December 31, 2024 (the last trading day of the month of December 2024), which would have been received by the option holders had all option holders exercised their options as of that date.

 F-27Table of Contents

Stock options exercised during the year ended December 31, 2024 include none that were exercised for cash and 3,581,781 which were a cashless exercise. Restricted Share Units On January 15, 2024