Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 293

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 8
Chunk 293
---
 4,045

        Exercised

        (133
        )

        0.11

        Balance as of December 31, 2024

        535

        $
        0.11

        4.4

        $
        1,189

        Vested and expected to vest as of December 31, 2024

        535

        $
        0.11

        4.4

        $
        1,189

        Exercisable as of December 31, 2024

        526

        $
        0.11

        4.4

        $
        1,169

       (1)Amounts as of December 31, 2023 differ from those in prior year consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combination (see Note 3).No options were granted or cancelled during the year ended December 31, 2024. As of December 31, 2024, unrecognized compensation cost related to stock options was nominal. The aggregate intrinsic value of the options exercised during the year ended December 31, 2024 was $0.4 million. Founder Awards to Board of DirectorsIn 2021, an aggregate of 90,000 shares of common stock were transferred to three members of Concord III’s board of directors (“Founder Shares”). The Founder Shares contained double-trigger vesting, which required continuous service and a liquidity event for any shares to vest. As the required conditions were met upon the Closing, the Company recognized $0.9 million of stock-based compensation upon the Closing in March 2024.Restricted Stock UnitsIn December 2023, various employees and directors of Legacy GCT were granted 392,000 RSUs that contain both a performance condition based upon a liquidity event and a service vesting condition such that (subject to the liquidity event condition being satisfied) the RSUs vest in four equal annual installments from the grant date (“2023 RSUs”). The liquidity condition was met upon the Closing. In June 2024, the Company granted to the members of its board of directors certain share-based awards with a fixed monetary amount of $0.7 million equally allocated among six grantees (“2024 RSUs”). The number of shares issuable to each grantee under the 2024 RSUs is calculated by dividing one-fourth of the allocated fixed monetary amount by the closing price of the Company’s