Company: ANY
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001591956-25-000006
Chunk: 48

Company: Sphere 3D Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 8
Chunk 48
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3%Expected term (in years)—3.5Risk-free interest rate—4.1%Dividend yield——The following table summarizes option activity:SharesSubject to OptionsWeighted-AverageExercisePriceWeighted-AverageRemainingContractualTerm (years)AggregateIntrinsicValue(in thousands)Options outstanding — January 1, 2025443,170 $5.11 Granted— $— Exercised— $— Forfeited(26,785)$12.60 Options outstanding — March 31, 2025416,385 $4.63 3.7$— Vested and expected to vest — March 31, 2025416,385 $4.63 3.7$— Exercisable — March 31, 2025283,085 $6.16 3.1$— The weighted average grant date fair values of options granted for the three months ended March 31, 2025 and 2024 was nil and $2.05 per share, respectively.Restricted Stock UnitsThe following table summarizes RSU activity: Number ofSharesWeighted AverageGrant Date Fair ValueOutstanding — January 1, 2025760,834 $1.98 Granted1,784,783 $0.85 Vested and released(11,719)$1.36 Forfeited(1,226,417)$1.28 Outstanding — March 31, 20251,307,481 $1.10 Vested and unreleased  — March 31, 2025409,817 $1.37 

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The estimated fair value of RSUs was based on the closing market value of the Company’s common shares on the date of grant. RSUs typically vest over a period of 12 months to three years from the original date of grant. The total grant date fair value of RSUs vested for the three months ended March 31, 2025 and 2024 was approximately $0.4 million and $0.7 million, respectively. The fair value of RSUs vested for the three months ended March 31, 2025 and 2024 was approximately $0.2 million and $0.7 million, respectively. Share-Based Compensation Expense The Company recorded the following compensation expense related to its share-based compensation awards (in thousands):Three MonthsEnded