Company: XTIA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076767
Chunk: 33

Company: XTI Aerospace, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 “2018 Plan” and together with the 2011 Plan, the “Legacy Inpixon Option Plans”). The
2011 Plan terminated by its terms on August 31, 2021 and no new awards will be issued under the 2011 Plan.

2017 Plan

During 2017, Legacy XTI adopted the 2017 Plan,
which was amended in 2021 to increase the maximum shares eligible to be granted under the 2017 Plan. The Company may issue awards in
the form of restricted stock units and stock options to employees, directors, and consultants. Under the 2017 Plan, stock options are
generally granted with an exercise price equal to the estimated fair value of the Company’s common stock, as determined by the
Company’s Board of Directors on the date of grant. Options generally have contractual terms of ten years. Incentive stock options
(ISO) may only be granted to employees, whereas all other stock awards may be granted to employees, directors, consultants and other
key stakeholders. As of June 30, 2025, there are no shares available for future grants under the 2017 Plan.

2018 Plan

In February 2018, Legacy Inpixon adopted the
2018 Plan, which is utilized for employees, corporate officers, directors, consultants and other key persons employed. The 2018 Plan
provides for the granting of incentive stock options, NQSOs, stock grants and other stock-based awards, including Restricted Stock and
Restricted Stock Units (as defined in the 2018 Plan). As of June 30, 2025, there are no unvested Restricted Stock or Restricted Stock
Units outstanding under the 2018 Plan.

Incentive stock options granted under the 2018
Plan are granted at exercise prices at a minimum of 100% of the estimated fair market value of the underlying common stock at date of
grant. For any individual possessing more than 10% of the total outstanding common stock of the Company, the exercise price per share
for incentive stock options is a minimum 110% of the estimated fair value of the underlying common stock on the grant date. Options granted
under the 2018 Plan vest over periods ranging from immediately to four years and are exercisable over periods up to ten years from the
grant date.

The aggregate number of shares that may be awarded under the 2018 Plan
as of June 30, 2025 was 74,105,687