Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 772

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 4
Chunk 772
---
-  
    $-  
     - 
  
    Options issued 
     1,425,171  
     3.74  
     1.84  
     10.00 
  
    Options vested 
     (987,534) 
     3.74  
     1.84  
     10.00 
  
    Options expired 
     -  
     -  
     -  
     - 
  
    Options exercised 
     -  
     -  
     -  
     - 
  
    Balance – June 30, 2024, unvested 
     437,637  
    $3.74  
     1.84  
     9.75 
  
    Options issued 
     729,648  
     6.14  
     2.05  
     10.00 
  
    Options vested 
     (284,832) 
     3.80  
     1.86  

    Options expired 
     -  
     -  
     -  
     - 
  
    Balance – June 30, 2025, unvested 
     882,453  
    $5.54  
    $3.40  
     9.36 

The
Company valued options issued in April 2024 using the Black Scholes model utilizing volatility 45%, and a risk-free rate of 4.18%. The
fair value of the options was $1.84 per option.

The
Company valued options issued in September 2024 using the Black Scholes model utilizing volatility 45%, and a risk-free rate of 3.75%.
The fair value of the options was $1.94 per option.

The
Company valued options issued in April 2025 using the Black Scholes model utilizing volatility 55%, and a risk-free rate of 4.01%. The
fair value of the options was $4.05 per option.

The
Company recorded share-based compensation expense of $552,800 and $1,882,076 during the years ended June 30, 2025 and 2024, respectively,
which is included in educational services in the consolidated income statements. Unamortized compensation expense associated with unvested
options was $832,205 and $737,