Company: VEEAW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001213900-25-078177
Chunk: 282

Company: VEEA INC.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 282
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 June 30, 2025, was $179,076 which will be recognized
over a weighted average period of 2.43 years.

Restricted Stock Units

RSU activity under the Plan was as
follows:

    Number of RSUs  
    Weighted- Average  Grant Date  Fair Value 
  
    Unvested at December 31, 2024 
     -  
    $- 
  
    Granted 
     695,034  
     1.60 
  
    Vested 
     (60,852) 
     1.60 
  
    Forfeited 
     (3,581) 
     1.60 
  
    Unvested at June 30, 2025 
     630,603  
    $   1.60 

Stock compensation expense related
to the RSUs for the six months ended June 30, 2025 was $281,655 which is included in general and administrative expenses in the Company’s
condensed consolidated statements of operations and comprehensive income (loss). There were no RSUs granted during the six months ended
June 30, 2024. Total unrecognized expense related to unvested RSUs as of June 30, 2025, was $824,670 which will be recognized over a weighted
average period of 0.8 years.

12 - WARRANTS

As part of Plum’s initial public
offering (“IPO”), Plum issued warrants to third-party investors where each whole warrant entitles the holder to purchase one
share of the Common Stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously with the closing
of the IPO, Plum completed the private sale of warrants (the “Private Placement Warrants” and together with the Public Warrants,
the “Warrants”) where each Private Placement Warrant allows the holder to purchase one share of the Common Stock at $11.50
per share. At June 30, 2025, there were 6,384,326 Public Warrants and 5,256,218 Private Placement Warrants outstanding.

The Public Warrants become exercisable
at per share, subject to adjustment, at any time commencing 30 days after the completion of the Business Combination; provided that the
Company has an effective registration statement under the Securities Act covering the shares of Common Stock issuable upon exercise of
the Public Warrants