Company: PED
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001654954-25-003703
Chunk: 384

Company: PEDEVCO CORP
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 384
---
 2026, with 33.3% vesting each subsequent year from the date of grant, contingent upon the recipient’s continued service with the Company. The aggregate fair value of the options on the date of grant, using the Black-Scholes model, was $429,000. Variables used in the Black-Scholes option-pricing model for the options issued include: (1) a discount rate of 3.61% based on the applicable US Treasury bill rate, (2) expected term of 3.5 years, (3) expected volatility of 113% based on the trading history of the Company, and (4) zero expected dividends. During the period ended December 31, 2023, 315,333 options expired unexercised. During the year ended December 31, 2024 and 2023, the Company recognized stock option-based compensation expense related to options of $278,000 and $422,000, respectively. The remaining amount of unamortized stock options expense at December 31, 2024 and 2023 was $194,000 and $210,000, respectively. There was no intrinsic value of outstanding and exercisable options at December 31, 2024 and 2023, respectively. Option activity during the years ended December 31, 2024 and 2023 was:   2024  2023   Number of Stock Options    Weighted Average Grant Price   Weighted Average Remaining Contract Term (Years)   Number of Stock Options    Weighted Average Grant Price   Weighted Average Remaining Contract Term (Years)  Outstanding at Beginning of Period   1,632,334  $1.28   2.8   1,407,667  $1.51   2.7  Granted   460,000   0.68       540,000   1.09      Expired/Canceled   (256,667)  1.30       (315,333)  1.99      Outstanding at End of Period   1,835,667  $1.12   2.4   1,632,334  $1.28   2.8  Exercisable at End of Period   935,667  $1.35   1.