Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 1488

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9
Chunk 1488
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    PSUs cancelled/forfeited 
     -  
    $- 
  
    PSUs unvested – December 31, 2023 
     1,567,913  
    $18.56 

As of December 31, 2024, the total unrecognized compensation
expense related to unvested PSUs was approximately $7,276,000
which is expected to be recognized over a weighted-average period of 0.25
years, based on estimated vesting schedules. The stock-based compensation for PSUs was $14,553,000
and $13,753,000
during the years ended December 31, 2024 and 2023, respectively. During 2024 and 2023, the Company recognized no tax benefit from the
vesting of PSUs during these periods.

    F-38

Restricted Stock
Units

RSU awards are granted subject to certain vesting
requirements and other restrictions, including performance and market-based vesting criteria. The grant date fair value of the RSUs,
which has been determined based upon the market value of the Company’s common stock on the grant date, is expensed over the vesting
period of the RSUs.

Grants During the Year Ended December 31, 2024

During the year ended December 31, 2024, the Company’s
non-employee members of the Board of Directors were granted 43,961 time-based vesting RSUs with a fair market value of $790,000, which vest
in equal quarterly installments over one year. The Company also granted 283,870 time-based vesting RSUs with a fair market value of $7,286,000
to certain employees and consultants. Vesting terms for RSUs granted to employees and consultants during the year ended December 31,
2024 generally vest in equal installments over three or four years and vest in equal quarterly installments over one year.

Grants During the Year Ended December 31, 2023

During the year ended December 31, 2023, the Company’s
non-employee members of the Board of Directors were granted 41,301 time-based vesting RSUs with a fair market value of $800,000, which vest in equal quarterly
installments over one year. The Company also granted 86,873 time-based vesting RSUs with a fair market value of $697,000 to certain employees,
which