Company: VEEAW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-111013
Chunk: 112

Company: VEEA INC.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 112
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 of shares such that
the full number of shares underlying the September 2025 Grants may be delivered from the Plan’s share reserve and (B) the Company
files a Form S-8 with the SEC to register the shares subject to the September 2025 Grants, and if either (A) or (B) is not satisfied,
the September 2025 Grants may be fully unwound and cancelled.

The fair value of each stock option
granted is estimated using the Black-Scholes option-pricing model using the single-option award approach. The range of weighted average
assumptions used to calculate the fair value of the options granted during the nine months ended September 30, 2025, were as follows:

    September 30,
2025

    Stock Price
     
    $
    0.66-1.34

    Expected term (years)

    4.2-5.0

    Volatility

    75
    %
  
    Risk-Free Rate

    3.74-3.84
    %

Stock compensation expense related
to the common stock options outstanding for the nine months ended September 30, 2025 and 2024, was $203,616 and $394,234, respectively,
which is included in general and administrative expenses in the Company’s condensed consolidated statements of operations and comprehensive
income (loss). Total unrecognized expense related to unvested options outstanding as of September 30, 2025, was $1,082,949, which will
be recognized over a weighted average period of 3.9 years.

18

Restricted Stock Units

RSU activity under the Plan was as
follows:

    Number of RSUs  
    Weighted- Average  Grant Date  Fair Value 
  
    Unvested at December 31, 2024 
     -  
    $     - 
  
    Granted 
     695,034  
     1.60 
  
    Vested 
     (91.454) 
     1.60 
  
    Forfeited 
     (3,580) 
     1.60 
  
    Unvested at September 30, 2025 
     600,000  
    $1.60 

Stock compensation expense related
to the RSUs for the nine months ended September 30, 2025 was $555,507 which is included in general and administrative expenses in the
Company