Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 257

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 257
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ing 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. F-49 Veea Inc. and Subsidiaries Notes to the Consolidated Financial Statements For the Years ended December 31, 2024 and 2023

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                                  |     |           |    (9,127 | ) |     |                | 0.54 |     |             |    - |
| Outstanding at December 31, 2024           |     |           | 4,196,282 |   |     |                | 1.04 |     |             | 5.98 |
| Exercisable at December 31, 2024           |     |           | 4,145,552 |   |     |                |      |     |             |      |

The aggregate intrinsic value is the fair market value on the reporting date less the exercise price for each option.

The fair value of each stock option award is estimated on the date of the grant using the Black-Scholes option-pricing model. For options granted during the year ended December 31, 2024 and December 31, 2023, the weighted average estimated fair value using the Black-Scholes option pricing model was $ 1.49and $ 0.46per option, respectively.

Stock compensation expense related