Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 136

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 136
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2024 and 2023 at $164,949 and $17,544,561, respectively, and were estimated using a Black-Scholes valuation model using the following assumptions: stock price $1.55, implied volatility of 126.0%, and remaining term of 2.69 years. The change in the value of the SPA Warrants during the years ended December 31, 2024 and 2023 was a gain of $12,744,351 and $11,523,323, respectively, and was reported with other (income) expense in our consolidated statements of operations. Due to entering into the Letter Agreements, the warrants were accounted for and treated as warrant repricing, resulting in a loss of $590,266, which was reported with other (income) expense in our consolidated statements of operations during the year ended December 31, 2023. Proceeds from the exercise of SPA Warrants for the years ended December 31, 2024 and 2023 were $0 and $338,055, respectively. 13. Stock-Based Compensation On September 6, 2022, shareholders approved our 2022 Omnibus Incentive Plan (the “Omnibus Incentive Plan”) and on September 9, 2022, our board of directors ratified the Omnibus Incentive Plan. The Omnibus Incentive Plan provides for the grant of options, stock appreciation rights, RSUs, restricted stock and other stock-based awards, any of which may be performance-based, and for incentive bonuses, which may be paid in cash, Common Stock or a combination thereof. As of December 31, 2024, there were 694,447 shares authorized for issuance under the Omnibus Incentive Plan, and there were 258,424 remaining shares available for future grants. As of December 31, 2024, 19,439 options to purchase Common Stock remained outstanding and there are no remaining shares available for future grant. Options vest assuming continuous service to the Company with 25% of the options vesting one year after grant and the balance vesting in a series of 36 successive equal monthly installments measured from the first anniversary of grant. During the vesting period, holders have no rights of a stockholder with respect to the shares of Common Stock subject to an option, and the options may not be sold, assigned, transferred, pledged, or otherwise encumbered. Unvested options are forfeited upon termination of employment.