Company: CXAI
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001829126-25-002438
Chunk: 658

Company: CXApp Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 4
Chunk 658
---
The following summarizes our RSUs transaction activity for the year ended December 31, 2024:

    Schedule of RSUs transaction

    Shares

    Weighted Average Grant Date Fair Value

    Outstanding at January 1, 2024

    486,165

    $
    7.80

    Granted

    520,935

    $
    2.04

    Vested

    (318,165
    )
     
    $
    7.33

    Forfeited

    -

    Outstanding at December 31, 2024

    688,935

    Shares

    Weighted Average Grant Date Fair Value

    Outstanding at March 15, 2023

    -

    $

    Granted

    526,165

    $
    7.80

    Forfeited

    (40,000
    )
     
    $
    7.13

    Outstanding at December 31, 2023

    486,165

The total fair value of RSUs vested during the year ended December 31, 2024, was $2,331 thousand. There was no RSUs vested during the year ended December 31, 2023.

Non-cash stock-based compensation expenses related to restricted stock units recorded in the financial statements is summarized below:

    Schedule of non-cash stock-based compensation expenses related to restricted stock units

    Successor

    Year ended December 31, 2024

    Period from March 15, 2023, to December 31, 2023

    Research and development
     
    $
    605

    $
    -

    Sales and marketing

    310

    -

    General and administrative

    1,363

    686

    Total non-cash stock compensation
     
    $
    2,278

    $
    686

As of December 31, 2024, and December 31, 2023, the Company has approximately $1,016 thousand and $1,796 thousands of unrecognized restricted stock unit compensation to be expensed over a weighted average period of 0.91 year and 1.42 years, respectively.

    F-32

NOTE 12 – Convertible Debt

On May 22, 2024, the Company entered into a Securities Purchase Agreement (the “SPA”), pursuant to which the Lender desires to purchase up to $10,000,000 shares