Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 2229

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 9A
Chunk 2229
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 consolidated statements of operations.

Stock
Options

The
following table summarizes option activity for the year ended December 31, 2024:

     Options   Weighted Average Exercise Price   Weighted Average Remaining Life (Years)   Balance at January 1, 2024   1,335,078   $0.23    5.83   Granted   1,371,415    10.23        Exercised   (160,991)   0.48        Forfeited   (7,900)   10.23        Balance at December 31, 2024   2,537,602   $5.60    7.85   Vested and expected to vest   2,537,602   $5.60    7.85   Exercisable at the end of the period   1,174,087   $0.19    5.90  

Options granted during the year ended December 31, 2024 had weighted-average
grant-date fair values of $2.82. As of December 31, 2024, the unrecognized compensation cost for options issued and then outstanding was
$3.2 million and will be recognized over an estimated weighted-average amortization period of 3.32 years. The total intrinsic value of
options exercised during the years ended December 31, 2024 was $0.7 million. The aggregate intrinsic value of options outstanding and
exercisable as of December 31, 2024 was $9.1 million.

F-24

The
following tables provide additional detail about the options granted during the year ended December 31, 2024:

    Employees

    Grant Date 
    NSO Options (1) (#)  
    Exercise Price  ($) 
  
    June 6, 2024 
     651,737(3) 
     10.23 
  
    September 9, 2024 (2) 
     177,747  
     10.23 

  (1) One-fourth of the total number of shares of Class A common stock subject to the NSOs vest and become exercisable on June 6, 2025, and one-sixteenth of the total number of shares of Class A common stock subject to the