Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 342

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 342
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 by multiplying (i) the number of shares of Fold common stock subject to the Fold RSU award immediately prior to the consummation of the Merger by (ii) 82.5% (rounded down to the nearest whole share). As the Merger satisfied the performance vesting condition under the RSU awards, 1.4 million RSUs vested on the date that Fold Holdings, Inc. became a public company, resulting in the recognition of share -basedcompensation expense totaling $4.4 million with a weighted average grant date fair value of $3.37 for RSUs vested during the period. The Company recognized $5.2 million of share -basedcompensation expense for the three months ended March 31, 2025, which includes $4.4 million of share -basedcompensation expense that was immediately recognized due to the performance condition being satisfied on February 14, 2025. As the performance condition was not met as of March 31, 2024, no share -basedcompensation was recognized for the three months ended March 31, 2024. There was $5.2 million of unrecognized shared -basedcompensation expense related to unvested awards as of March 31, 2025. The unrecognized compensation expense will be recognized on a straight -linebasis over the weighted average vesting period of 1.99 years. Restricted Stock Award The Company’s awarded RSAs are not subject to any performance condition vesting requirements and are instead subject only to service conditions. We recorded a nominal amount of share -basedcompensation expense related to RSAs for the three months ended March 31, 2025 and March 31, 2024. There was no material unrecognized compensation expense related to RSAs as of March 31, 2025 or March 31, 2024, as all unvested shares were purchased by the Participants at fair value at the time of issuance. There were not any additional RSAs granted during the three months ended March 31, 2025 or March 31, 2024. Share -basedcompensation expense for RSAs is included in compensation and benefits in the accompanying statements of operations. F-73

Fold Holdings, Inc.
Notes to Unaudited Condensed Financial Statements 12. SHARE-BASED COMPENSATION EXPENSE (cont.) Determination of fair value The initial value of the awards on the dates that the RSUs and RSAs were granted was determined based on the underlying value of