Company: ZRCN
Filing Date: 2025-09-10
Form Type: 10-K
Source: 0001641172-25-027037
Chunk: 536

Company: ZRCN Inc.
Filing Date: 2025-09-10
Form: 10-K
Item: Item 2
Chunk 536
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500 shares
remain available for issuance under the Equity Plan. The number of shares of Common Stock available for grant and issuance under this
Plan will be automatically increased on the first day of each calendar year beginning with the first January 1 following the effective
date and ending with the last January 1 during the initial ten-year term of the Equity Plan, equal to the lesser of (A) five percent
(5%) of the shares of Common Stock outstanding (on an as-converted basis) on the final day of the immediately preceding calendar year
and (B) such lesser number of shares of Common Stock as determined by the Board.

The
following table summarizes the Company’s employee and non-employee Option activity under the Equity Plan for the following periods:

 Schedule Employee and Non-employee Option Activity

    Number
    of shares  
    Weighted
    average exercise price  
    Weighted
    average remaining term (years)  
    Aggregate
    intrinsic value (in thousands) 
  
    Outstanding
    as of March 31, 2023 
    —  
    —  
    —  
    — 
  
    Options
    granted 
    —  
    —  
    —  
    — 
  
    Forfeited 
    —  
    —  
    —  
    — 
  
    Outstanding
    as of March 31, 2024 
     —  
     —  
     —  
     — 
  
    Options
    granted 
     3,236,500  
     0.86  
     3.44  
     — 
  
    Forfeited 
     20,000  
     0.75  
     —  
     — 
  
    Outstanding
    as of March 31, 2025 
     3,216,500  
     0.79  
     3.44  
     — 
  
    Exercisable
    as of March 31, 2025 
     —  
     —  
     —  
     — 

During
the year ended March 31, 2025, the Company issued 3,236,500 common stock options, with an
aggregate grant date fair value of $0.9 million, as determined utilizing the Black-Scholes model, to employees and a nonemployee member