Company: FLDDW
Filing Date: 2025-07-28
Form Type: S-1/A
Source: 0001213900-25-068264
Chunk: 343

Company: Fold Holdings, Inc.
Filing Date: 2025-07-28
Form: S-1/A
Chunk 343
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14, 2025, upon finalization of the Merger Agreement with FTAC Emerald, each outstanding Fold RSU award was converted into an award of restricted stock units covering a number of shares of common stock determined 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, 1.4million RSUs vested on the date that Fold Holdings, Inc. became a public company, resulting in the recognition of share -basedcompensation expense totaling $ 4.4million with a weighted average grant date fair value of $ 3.37for RSUs vested during the period. The Company recognized $ 5.2million of share -basedcompensation expense for the three months ended March 31, 2025, which includes $ 4.4million 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, noshare -basedcompensation was recognized for the three months ended March 31, 2024. There was $ 5.2million 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 nomaterial 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 notany 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 Cond