Company: APCXW
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002130
Chunk: 693

Company: AppTech Payments Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 693
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 result, a
total of 2,702,632 shares of common stock were authorized under the 2024 Plan, with 508,167 shares available for issuance as of December
31, 2024.

As
part of the acquisition of FinZeo, the previous management team received 1,500,000  options
of AppTech's common stock, which vest if the Company achieves certain sales targets. One million in options were forfeited by the Seller
upon his termination in June 2024 and canceled by the Company. The remaining 500,000  options
were not recorded during the year ended December 31, 2024 as these options were not determined to be probable of vesting.

For the year ended December 31, 2024, the Company
granted 3,838,500 options to purchase common stock. These grants included:

    1.
    1,000,000 options to a consultant, with vesting contingent upon reaching specified sales milestones. The fair value of these options, which are non-plan with a one-year life, will be recognized as an expense when vesting appears probable. These options have an exercise price of $1.58 per share and a fair value of $0.64 per share on the issuance date. As of December 31, 2024, the Company did not record any stock-based compensation expense as these were not determined to be probable of vesting.

    2.
    On April 4, 2024, the Company granted 351,000 options to current and former employees and consultants with an exercise price of $0.95, a ten-year expiration term, and a fair value on the grant date of $0.86. The Company recognized $349 thousand related to this grant. The options were fully vested upon the grant date.

    3.
    The Company granted 470,000 options to the board of directors and consultants. These options have a ten-year expiration period, with exercise prices ranging from $0.59 to $2.11 per share. The fair value of these options, as determined on the grant date, ranged from $0.51 to $1.78 per share.

    4.
    On July 3, 2024, the Company granted 510,000 options under the equity plan and 1,452,500 options outside of the plan to employees and consultants. These options, which expire ten years from the grant date, have an exercise price of