Company: CXAI
Filing Date: 2025-05-23
Form Type: 424B3
Source: 0001829126-25-003922
Chunk: 33

Company: CXApp Inc.
Filing Date: 2025-05-23
Form: 424B3
Chunk 33
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768 shares were withheld in satisfaction of the taxes required to be paid in connection with the exercise.

On August 26, 2024, the Board approved the award of 230,000 options to purchase common stock pursuant to the 2023 Equity Incentive Plan to Joy Mbanugo, the Chief Financial Officer of the Company. The option has an exercise price of $2.40 per share. The options expire on August 26, 2034. The stock options were valued using the Black-Scholes option valuation model and the fair value of the awards granted was determined to be $1.49 per option on the grant date. The fair value of the common stock as of the grant date utilized in the Black-Scholes option valuation model was $2.40 per share.

For the three months ended March 31, 2025, there were no stock options granted, exercised or forfeited.

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See below for a summary of the stock options granted under the Incentive Plan for the three months ended March 31, 2025 and year ended December 31, 2024:

| Schedule                               
 of stock option activity               |     | Number of Options |           |     | Weighted average 
 exercise price   |      |     | Weighted average remaining contractual term 
 (Years)                                     |      |     | Weighted average 
 at Grant date    |      |     | Aggregate Intrinsic 
 Value (in thousand) |     |
|:---------------------------------------|:----|:------------------|----------:|:----|:-----------------|-----:|:----|:--------------------------------------------|-----:|:----|:-----------------|-----:|:----|:--------------------|----:|
| Options outstanding at January 1, 2025 |     |                   | 1,799,550 |     | $                | 1.52 |     |                                             | 8.74 |     |                  | 0.93 |     |                     |     |
| Granted                                |     |                   |         0 |     | $                |    - |     |                                             |      |     |                  |    - |     |                     |     |
| Exercised                              |     |                   |         0 |     | $                |    - |     |                                             |      |     |                  |    - |     | $                   | 108 |
| Forfeited                              |     |                   |         0