Company: VLDXW
Filing Date: 2025-08-20
Form Type: 424B4
Source: 0001641172-25-024892
Chunk: 257

Company: Velo3D, Inc.
Filing Date: 2025-08-20
Form: 424B4
Chunk 257
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31, 2023              |     |                | 24 |   |     | $                | 325.50 |     |                  |     |
| Outstanding as of December 31, 2023                         |     |                | 25 |   |     | $                | 320.25 |     |                  | 6.2 |
| Granted                                                     |     |                |  — |   |     | $                |      — |     |                  |     |
| Exercised                                                   |     |                | (3 | ) |     | $                |  94.50 |     |                  |     |
| Forfeited or expired                                        |     |                | (4 | ) |     | $                | 242.25 |     |                  |     |
| Outstanding as of December 31, 2024                         |     |                | 18 |   |     | $                | 380.70 |     |                  | 5.0 |
| Options vested and expected to vest as of December 31, 2024 |     |                | 18 |   |     | $                | 380.70 |     |                  |     |
| Vested and exercisable as of December 31, 2024              |     |                | 18 |   |     | $                | 380.10 |     |                  |     |

As of December 31, 2024, there is no aggregate intrinsic value of options outstanding. As of December 31, 2023, there was $2.3 million of aggregate intrinsic value of options outstanding . Intrinsic value of options exercised for the years ended December 31, 2024 and 2023 was $0.2 million and $4.6 million, respectively. The total grant date fair value of options vested was $0.1 million and $0.7 million for the years ended December 31, 2024 and 2023, respectively.

As of December 31, 2024, there is no unrecognized compensation cost related to options.

Restricted Stock Units

The fair value of RSUs under the Company’s 2021 EIP is estimated using the value of the Company’s common stock on the date of grant.

| F-44 |

<div align='center'>Velo3D, Inc.

Notes to Consolidated Financial Statements</div>

The following table summarizes outstanding and expected to vest RSUs as of December 31, 2024