Company: FLDDW
Filing Date: 2025-01-22
Form Type: S-4/A
Source: 0001213900-25-005202
Chunk: 472

Company: Fold Holdings, Inc.
Filing Date: 2025-01-22
Form: S-4/A
Chunk 472
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 on the underlying value of the Company’s common stock. As a private company, the common stock was valued by performing an enterprise valuation using a guideline public company market approach method. This method leverages an analysis of publicly traded peers to develop relevant market multiples and ratios applied to the Company’s historical and expected cash flows. RSU and RSA activity The following table summarizes RSU and RSA share activity under the Equity Plan for the years ended December31, 2023 and 2022:

|                                       |     |      RSUs |   |     |      RSAs |   |
| Shares nonvested at January 1, 2022   |     |   873,747 |   |     | 1,884,525 |   |
| Granted                               |     |   806,447 |   |     |         — |   |
| Vested                                |     |         — |   |     |  (833,700 | ) |
| Forfeited                             |     |   (97,105 | ) |     |  (350,000 | ) |
| Shares nonvested at December 31, 2022 |     | 1,583,089 |   |     |   700,825 |   |
| Granted                               |     |   242,010 |   |     |         — |   |
| Vested                                |     |         — |   |     |  (550,367 | ) |
| Forfeited                             |     |  (284,123 | ) |     |         — |   |
| Shares nonvested at December 31, 2023 |     | 1,540,976 |   |     |   150,458 |   |

Note that while certain RSUs have met the service condition, no RSUs have met the performance condition, and are therefore not included in common shares issued and outstanding as of December31, 2023 or 2022. 11. COMMITMENTS AND CONTINGENCIES 401(k) Plan We sponsor a 401(k) defined contribution plan covering all eligible U.S. employees. Both Company and employee contributions to the 401(k) plan are discretionary. For each of the years ended December 31, 2023 and 2022, we recorded $0.1 million of expenses related to the 401(k) plan, which is included in compensation and benefits in the accompanying statements of operations. Litigation The Company was not a party of any ongoing or pending