Company: ANY
Filing Date: 2025-11-04
Form Type: 10-Q
Source: 0001591956-25-000014
Chunk: 57

Company: Sphere 3D Corp.
Filing Date: 2025-11-04
Form: 10-Q
Item: Part I, Item 8
Chunk 57
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Us were vested and common shares issued, and the remaining will vest upon achievement of a specific performance condition and expire 12 months from the date of grant. See Note 12 Commitments and Contingencies for more information on the related financial advisory agreement. The following table summarizes RSU with performance condition activity: Number ofSharesWeighted AverageGrant Date Fair ValueOutstanding — January 1, 2025— — Granted740,740 $0.62 Vested(370,370)$0.62 Forfeited— — Outstanding — September 30, 2025370,370 $0.62 The fair value of RSUs vested during the nine months ended September 30, 2025 was $0.2 million.Share-Based Compensation ExpenseThe Company recorded the following compensation expense related to its share-based compensation awards (in thousands):Three MonthsEnded September 30,Nine MonthsEnded September 30,2025202420252024General and administrative$212 $511 $601 $2,369 Total share-based compensation expense$212 $511 $601 $2,369 Total unrecognized estimated compensation cost by type of award and the weighted-average remaining requisite service period over which such expense is expected to be recognized (in thousands, unless otherwise noted):September 30, 2025Unrecognized ExpenseRemaining Weighted-Average Recognition Period (years)RSUs$853 1.3Stock options$67 0.7

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11.Net Income (Loss) per Share

Basic net income (loss) per share is computed by dividing net income (loss) applicable to common shareholders by the weighted-average number of common shares outstanding for the period. Diluted net income (loss) per share reflects the potential dilution of securities that could share in the earnings of an entity. The calculation of diluted net income (loss) per share gives effect to common share equivalents; however, potential common shares are excluded if their effect is anti-dilutive. Common share purchase warrants, preferred shares issued and outstanding, and options and RSUs outstanding are considered common share equivalents and are only included in the calculation of diluted earnings per common share when net income is reported and their effect is dilutive. A reconciliation of the numerators and denominators is as follows (in thousands, except share and per share amounts):Three MonthsEnded September 30,Nine MonthsEnded September 30,2025202420252024Numerator:Net income (