Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 709

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 1B
Chunk 709
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.

On February 12, 2025, the Company granted 17,966 (358,208 prior to the Second Reverse Stock Split) RSUs to its employees wherein all the
RSU’s granted will fully vest on the vesting commencement date i.e. March 31, 2025 pursuant to the amendment agreement dated March 31,
2025.

F-43

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

30Stock-based compensation expense  (Continued)

The following tables summarizes total stock-based compensation expense by function for the years ended March 31, 2025 and March 31, 2024:

    March 31,
 2025  
    March 31,
 2024 
  
    Cost of revenue 
    $3,650  
    $134,883 
  
    Technology expenses 
     10,273  
     162,789 
  
    Marketing expenses 
     1,778  
     19,228 
  
    General and administrative expenses 
     36,760  
     1,566,833 
  
    Total stock-based compensation expense 
     52,461  
     1,883,733 

The stock-based compensation expense
is recorded in the employee benefit cost and apportioned basis respective functions.

The fair value of options granted is considered as the market price
of the Common Stock on the grant date.

The movement in number of stock-based
options outstanding and their related weighted average exercise price for the 2023 Equity Incentive Plan are as follows:

    2025  
    2024 

    No. of options  
    Weighted average exercise price  
    No. of options  
    Weighted average exercise price 
  
    Outstanding at the beginning of the year 
     -  
    $         -  
          -  
    $       - 
  
    Granted during the year 
     17,966  
     -  
     -  
     - 
  
    Outstanding at the end of the period 
     17,966  
        
     -  

    Exercisable at the end of the period 
     17,966  
     -  
     -  
     - 
  
    Unvested at the end of the period 
     -