Company: SATLW
Filing Date: 2025-03-26
Form Type: 10-K
Source: 0001628280-25-014951
Chunk: 32

Company: Satellogic Inc.
Filing Date: 2025-03-26
Form: 10-K
Item: Item 8
Chunk 32
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ing changes to reflect the consummation of the Domestication. 

13. Stock-based Compensation

Our employees, including senior executives, receive incentives in the form of stock options and RSUs, whereby employees render services as consideration for equity instruments (equity-settled transactions). On the Closing Date, we established the 2021 Incentive Compensation Plan, which was amended and restated in connection with the Domestication (the “2021 Plan”) under which RSUs were issued during the years ended December 31, 2024 and December 31, 2023. The 2021 Plan provides for the grant of options, stock appreciation rights, restricted stock awards, RSUs, shares granted as a bonus or in lieu of another award, dividend equivalents, or other stock-based awards or performance awards at the discretion of a board-elected committee. We also maintain our 2015 Share Plan as amended (the “2015 Plan”) under which stock-based option awards were issued or modified. The options were typically granted with a four-year vesting term and a maximum contractual term of 10 years. As of December 31, 2022, no further awards have or shall be granted under the 2015 Share Plan. There were no options granted during the years ended December 31, 2024 and December 31, 2023.

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Table of ContentsSATELLOGIC INC. Notes to Consolidated Financial Statements (in thousands of U.S. dollars, except share and per share information, unless otherwise stated) 

A summary of stock option activity for the year ended December 31, 2024 is as follows: Number of OptionsWeighted-Average Exercise PriceWeighted-Average Remaining Contractual Term (years)Intrinsic Value (in thousands)Balance as of December 31, 20234,909,302$1.55 5.58$3,393 Granted ——Forfeited (118,463)4.13 Exercised(1,026,285)0.92 Expired (530,258)2.68 Outstanding at December 31, 20243,234,296$1.50 4.55$5,574 Exercisable at December 31, 20243,172,016$1.42 4.51$5,532 The total intrinsic value of options exercised during the years ended December 31, 2024 and 2023 was $0.5 million