Company: SLNH
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023503
Chunk: 198

Company: Soluna Holdings, Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 198
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 Stock 
     57,255  
    $2.41 
  
    Restricted Stock Awards
    – Common Stock 
     645,795  
    $3.96 

     1,313,284  

38,153
of the restricted stock awards vested immediately, 2,704,772 of the restricted stock awards vest at separation from the Company, 690,223
of the restricted stock awards vest 33% on June 1, 2024, 33% on June 1, 2025 and 34% on June 1, 2026, 304,289 of the restricted stock
awards vest 33% on June 1, 2025, 33% on June 1, 2026 and 34% on June 1, 2027, 14,505 of the restricted stock awards vest on June 1, 2025,
14,894 of the restricted stock award vest on June 1, 2026, 1,710 of the restricted stock awards vest on June 1, 2027, and 462,212 of
the restricted stock awards vest 33% on September 1, 2025, 33% on September 1 , 2026 and 34% on September 1, 2027.

No
options were granted under the 2021 Plan and the 2023 Plan for the three and nine months ended September 30, 2025 and September 30, 2024.

During
August 2025, upon the successful election to the Board, certain Awards with separation vesting incurred an extension of the vesting term
by three years. As such, a modification occurred. All such unvested equity awards were probable of vesting as of the modification date
and the change was accounted for as a Type I modification. In a Type I modification, the Company is required to calculate the incremental
difference of the awards, which equals the difference of new award value inclusive of estimated forfeitures and the fair value of the
original award as of the modification date. As of the modification date, there is no reversal or adjustment of previously recognized
stock compensation expense. The modification related to 492,645 awards of restricted stock granted to two board members. There was no
incremental compensation cost resulting from the modification since the awards are grants of restricted stock. The difference between
the fair value of the original award as of the modification date