Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 148

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 148
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 $4,901.42             Outstanding at December 31, 2023   4,646   $4,481.30    6.7   $—   Legacy Inpixon stock options from merger   5   $16,917.50             Granted   55,434   $117.50             Exercised   (371)  $0.25             Expired   (3)  $700.00             Forfeitures   (8,526)  $484.00             Outstanding at December 31, 2024   51,185   $455.00    9.3   $—   Exercisable at December 31, 2024   3,803   $3,330.00    7.7   $—  

Forfeitures
during the year ended December 31, 2024 were primarily due to the departures of Legacy XTI’s former Chief Executive Officer and
the Company’s former Chief Legal Officer. The weighted average grant-date fair value of options granted during the years ended
December 31, 2024 and 2023 was approximately $0.2 million and $0.6 million, respectively.

F-31

XTI
AEROSPACE, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

The
Board approved awards of options to certain Company executives under the 2018 Plan. Each option has an exercise price of $118.25 per
share. The options will vest 1/3rd annually over three years starting from the vesting commencement date. The options expire ten years
from the grant date. Options were granted as follows:

  Grantee  Grant Date  Vesting Start Date  Options Granted   Chief Executive Officer of XTI Aerospace, Inc.  6/12/2024  6/12/2024   11,250   Chief Financial Officer of XTI Aerospace, Inc.  6/12/2024  6/12/2024   6,563   Chief Executive Officer of the X