Company: VEEAW
Filing Date: 2025-07-07
Form Type: DRS
Source: 0001213900-25-061586
Chunk: 288

Company: VEEA INC.
Filing Date: 2025-07-07
Form: DRS
Chunk 288
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i) the number of shares of Private Veea’s common stock subject to such Private Veea option immediately prior to the Business Combination and (ii) the Exchange Ratio, at an exercise price per share equal to (A) the exercise price per share of such Private Veea option immediately prior to the consummation of the Business Combination, divided by (B) the Exchange Ratio. Following the Business Combination, each Exchanged Option will continue to be governed by the same terms and conditions (including vesting and exercisability terms) as were applicable to the corresponding former Private Veea option immediately prior to the consummation of the Business Combination. Unvested Private Veea options did not accelerate nor vest on the consummation of the Business Combination. All stock option activity was retroactively restated to reflect the effect of the Exchange Ratio. Generally, stock options vest 25% on the first anniversary of the vesting commencement date and then quarterly thereafter for 12 quarters, or pursuant to another vesting schedule as approved by the Board and set forth in the option agreement. Stock options have a maximum term of ten years from the date of grant.

<div align='center'>F-49

Veea Inc. and Subsidiaries

Notes to the Consolidated Financial Statements

For the Years ended December 31, 2024 and 2023</div>

Option Activity

Stock option activity under the Plan was as follows for the year ended December 31, 2024:

|                                   |     | Number  
 of      
 Options |           |   |     | Weighted-      
 Average        
 Exercise Price 
 per Share      |      |     | Weighted-   
 Average     
 Remaining   
 Contractual 
 Term        
 (years)     |      |
|:----------------------------------|:----|:--------|----------:|:--|:----|:---------------|-----:|:----|:------------|-----:|
| Outstanding at December 31, 2023, 
 recasted                          |     |         | 1,202,724 |   |     | $              | 0.55 |     |             | 5.85 |
| Granted                           |     |         | 3,063,139 |   |     |                | 1.78 |     |             |    - |
| Exercised                         |     |         |   (60,454 | ) |     |                |    - |     |             |    - |
| Forfeited                         |     |