Company: MFON
Filing Date: 2025-06-06
Form Type: 10-Q
Source: 0001641172-25-014006
Chunk: 33

Company: MOBIVITY HOLDINGS CORP.
Filing Date: 2025-06-06
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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    Unrecognized expense at March 31, 2025 
    $—  

    18

2024

On March 31, 2024 the company grated granted five
independent directors a total of 162,500 restricted stock units. The units were valued at $81,250 or $.50 per share, based on the closing
stock price on the date of the grant. All units vested immediately. The shares of common stock associated with the restricted stock units
will be issued to each director upon the earliest to occur of (A) March 31, 2027, (B) a change in control of the Company, and (C) the
termination of the director’s service with the Company.

In the three months ended March 31, 2024 the Company
recorded $81,250 in restricted stock expense as board compensation.

2025

On March 31, 2025 the company granted five independent
directors a total of 225,690 restricted stock units. The units were valued at $81,248 or $.36 per share, based on the closing stock price
on the date of the grant. All units vested immediately. The shares of common stock associated with the restricted stock units will be
issued to each director upon the earliest to occur of (A) March 31, 2028, (B) a change in control of the Company, and (C) the termination
of the director’s service with the Company.

In the three months ended March 31, 2025, the Company
recorded $81,248 in restricted stock expense as board compensation.

Stock Based Compensation from Restricted Stock

The impact on our results of operations of recording
stock-based compensation expense for restricted stock units for the three months ended March 31, 2025 and 2024 was as follows:

 Schedule
of Stock-based Compensation Expense

    Three Months Ended 

    March 31, 

    2025  
    2024 
  
    General and administrative 
    $81,248  
    $81,250 
  
    Total 
    $81,248  
    $81,250 

As of March 31, 2025, there was no unearned restricted
stock unit compensation.

Warrants

The following table summarizes investor warrants as
of March 31, 2025 and the years ended December 31, 2024 and 2023:

 Schedule
of Investor W